Menu
09/10/2001
Aer Lingus board meets to discuss rescue plan
The board of Aer Lingus was to meet on Tuesday to discuss the options for a rescue package for the beleaguered Irish airline.
It is understood that high on the agenda for the October 9 meeting was the axing of hundreds of jobs, but there were hopes that the Irish government may be prepared to step in with an aid package.
Fears have been growing about substantial jobs losses at Aer Lingus since the terrorist attacks on the US led to a drop of around 80 per cent on some of the routes.
In a bid to boost passengers the airline announced a range of lower fares on Monday. In some cases fares have been slashed by up to 70 per cent, in an effort to bring back customers to the airline. Flights to London are on offer for £29 and flights to New York can be had for as little as £169.
The situation at Aer Lingus was discussed during a meeting of the Irish Cabinet, which debated how much aid should be given to the airline.
The Taoiseach Bertie Ahern said that fiscal losses at Aer Lingus were running at around IR£2 million-a-day and that the company’s cash reserves would be depleted early in the new year.
There is concern that under current EU rules it may not be possible to directly provide state substantial aid, but one of the options believed to be under consideration is a guaranteed loan scheme.
Unions are reported to have accepted that jobs losses are inevitable given the severe difficulties that the company are experiencing. However, union leaders, who have not yet been told of the scale of the jobs losses, have already called on the company to attempt to achieve as many jobs loses as possible through voluntary redundancies.
In comparison the US government has already pledged a $15 billion package to help airlines though the ongoing air travel crisis. (SP)
It is understood that high on the agenda for the October 9 meeting was the axing of hundreds of jobs, but there were hopes that the Irish government may be prepared to step in with an aid package.
Fears have been growing about substantial jobs losses at Aer Lingus since the terrorist attacks on the US led to a drop of around 80 per cent on some of the routes.
In a bid to boost passengers the airline announced a range of lower fares on Monday. In some cases fares have been slashed by up to 70 per cent, in an effort to bring back customers to the airline. Flights to London are on offer for £29 and flights to New York can be had for as little as £169.
The situation at Aer Lingus was discussed during a meeting of the Irish Cabinet, which debated how much aid should be given to the airline.
The Taoiseach Bertie Ahern said that fiscal losses at Aer Lingus were running at around IR£2 million-a-day and that the company’s cash reserves would be depleted early in the new year.
There is concern that under current EU rules it may not be possible to directly provide state substantial aid, but one of the options believed to be under consideration is a guaranteed loan scheme.
Unions are reported to have accepted that jobs losses are inevitable given the severe difficulties that the company are experiencing. However, union leaders, who have not yet been told of the scale of the jobs losses, have already called on the company to attempt to achieve as many jobs loses as possible through voluntary redundancies.
In comparison the US government has already pledged a $15 billion package to help airlines though the ongoing air travel crisis. (SP)
Related Northern Ireland Business News Stories
Click here for the latest headlines.
22 February 2024
New Support Package For Businesses Affected By Flooding
A new support package for businesses affected by flooding has been announced by Economy Minister Conor Murphy. The Enhanced Flood Support Scheme will provide further support to businesses that were directly flooded following the severe weather in late October and early November.
New Support Package For Businesses Affected By Flooding
A new support package for businesses affected by flooding has been announced by Economy Minister Conor Murphy. The Enhanced Flood Support Scheme will provide further support to businesses that were directly flooded following the severe weather in late October and early November.
29 November 2001
Irish airport sector hit by further redundancies
It is thought that over 200 jobs are under threat at Dublin Airport following reports that Servisair has issued protective redundancy notices to workers at the site.
Irish airport sector hit by further redundancies
It is thought that over 200 jobs are under threat at Dublin Airport following reports that Servisair has issued protective redundancy notices to workers at the site.
01 December 2008
Ryanair Flies Into Takeover Turbulence
There's a multi-million euro bid for Aer Lingus on the table today as budget airline Ryanair makes a fresh takeover offer. The all-cash offer would value Aer Lingus at €748m euros (£619m) a lot less than the previous offer for Aer Lingus, which valued it at €1.5 billion.
Ryanair Flies Into Takeover Turbulence
There's a multi-million euro bid for Aer Lingus on the table today as budget airline Ryanair makes a fresh takeover offer. The all-cash offer would value Aer Lingus at €748m euros (£619m) a lot less than the previous offer for Aer Lingus, which valued it at €1.5 billion.
08 October 2009
Aer Lingus Staff Await Jobs Briefing
Irish airline, Aer Lingus has told staff in Cork and Shannon they will be briefed later today on the "restructuring" plan that is expected to see almost 700 jobs cut. The part state owned airline yesterday revealed plans to cut 676 jobs through voluntary redundancies by the end of 2011 due to their ongoing operating loss.
Aer Lingus Staff Await Jobs Briefing
Irish airline, Aer Lingus has told staff in Cork and Shannon they will be briefed later today on the "restructuring" plan that is expected to see almost 700 jobs cut. The part state owned airline yesterday revealed plans to cut 676 jobs through voluntary redundancies by the end of 2011 due to their ongoing operating loss.
19 September 2001
Airline industry suffers in aftermath of US hijackings
Fine Gael has demanded a special debate in the Irish Parliament, the Daíl, to discuss the jobs crisis at Irish airline Aer Lingus. Around 1,600 jobs are to go at the airline after Aer Lingus announced a 25 per cent cut in its operations on Tuesday, in the wake of the hijacking disasters in America.
Airline industry suffers in aftermath of US hijackings
Fine Gael has demanded a special debate in the Irish Parliament, the Daíl, to discuss the jobs crisis at Irish airline Aer Lingus. Around 1,600 jobs are to go at the airline after Aer Lingus announced a 25 per cent cut in its operations on Tuesday, in the wake of the hijacking disasters in America.
-
Northern Ireland WeatherThis Evening and Tonight:Dry in the southeast at first otherwise widespread light rain or drizzle for most. It will turn mostly dry towards dawn, although a few patches of light rain or drizzle continuing, mainly in the southwest. Minimum temperature 5 °C.
