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18/05/2009
Aer Lingus Dismisses 'Bankrupt' Claim
A senior executive at the troubled former state airline, Aer Lingus, has dismissed claims by Ryanair Chief Executive Michael O'Leary that the former flag carrier would be bankrupt within 18 months.
The airline's Chairman, Colm Barrington, said that he expected Aer Lingus' operating loss to be bigger this year than it was in 2008, and that the company was working to improve profitability.
The news comes after the airline continued to insist that their contentious move to favour a Belfast to Heathrow route over Shannon-London - which provoked local outrage in the Republic - is still a successful project.
Ryanair has lodged formal complaints with Irish and UK financial authorities alleging Aer Lingus misled the market by presenting overly optimistic forecasts after Ryanair withdrew its takeover bid last year.
Speaking on RTÉ Radio, Mr Barrington also rejected a claim by Mr O'Leary that Aer Lingus was spending its cash reserves, which currently stand at about €600 million.
See: Low Flying Aer Lingus Still Committed To NI
(BMcC)
The airline's Chairman, Colm Barrington, said that he expected Aer Lingus' operating loss to be bigger this year than it was in 2008, and that the company was working to improve profitability.
The news comes after the airline continued to insist that their contentious move to favour a Belfast to Heathrow route over Shannon-London - which provoked local outrage in the Republic - is still a successful project.
Ryanair has lodged formal complaints with Irish and UK financial authorities alleging Aer Lingus misled the market by presenting overly optimistic forecasts after Ryanair withdrew its takeover bid last year.
Speaking on RTÉ Radio, Mr Barrington also rejected a claim by Mr O'Leary that Aer Lingus was spending its cash reserves, which currently stand at about €600 million.
See: Low Flying Aer Lingus Still Committed To NI
(BMcC)
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02 June 2009
Ryanair Flies Low
The budget airline Ryanair - which flies from two bases in Northern Ireland - has revealed financial returns showing a major nosedive in operating profits. Ryanair plunged into the red by €169.2 million (£145.9m) in the year to March after being hit with a 59% hike in its fuel bill.
Ryanair Flies Low
The budget airline Ryanair - which flies from two bases in Northern Ireland - has revealed financial returns showing a major nosedive in operating profits. Ryanair plunged into the red by €169.2 million (£145.9m) in the year to March after being hit with a 59% hike in its fuel bill.
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.
21 October 2009
Aer Lingus Should Merge – But Not With Ryanair
A former Aer Lingus chief executive has said the future of the airline can only be secured if it merges with another airline – as long as that airline isn't Ryanair.
Aer Lingus Should Merge – But Not With Ryanair
A former Aer Lingus chief executive has said the future of the airline can only be secured if it merges with another airline – as long as that airline isn't Ryanair.
17 December 2008
Revamped Ryanair Offer Shot-Down
Aer Lingus has rejected the Ryanair offer despite a revised bid from the budget airline yesterday. The rejection comes in spite of two major changes to the initial hostile takeover offer, with the Aer Lingus Chairman Colm Barrington dismissing the offer as "nothing new".
Revamped Ryanair Offer Shot-Down
Aer Lingus has rejected the Ryanair offer despite a revised bid from the budget airline yesterday. The rejection comes in spite of two major changes to the initial hostile takeover offer, with the Aer Lingus Chairman Colm Barrington dismissing the offer as "nothing new".
31 August 2010
Examiner Appointed To Aer Arann
The High Court has appointed an Examiner for troubled airline, Aer Arann. Aer Arann said it intends to operate normally during the period of examinership and intends to fly all Aer Arann services and all Aer Lingus Regional services operated under the airline’s franchise agreement with Aer Lingus.
Examiner Appointed To Aer Arann
The High Court has appointed an Examiner for troubled airline, Aer Arann. Aer Arann said it intends to operate normally during the period of examinership and intends to fly all Aer Arann services and all Aer Lingus Regional services operated under the airline’s franchise agreement with Aer Lingus.
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Northern Ireland WeatherThis Evening and Tonight:Dry with clear skies this evening. Patchy cloud will increase at times overnight, but some clear spells too. Light winds and some patchy shallow mist or fog towards dawn. Minimum temperature 2 °C.
