Aer Lingus 'encouraged' by first five months of 2010

Aer Lingus Chairman, Colm Barrington, stated (18-Jun-2010) 1Q2010 represented a "positive start to the year" for the carrier. Trading during Apr-2010 and May-2010 was ahead of the same period in 2009, despite the impact of the Icelandic volcano eruption. Ash-related disruptions are expected to reduce earnings by approximately EUR20 million. Aer Lingus reported the following highlights for 1Q2010:

• Revenue: -1.8% year-on-year;
• Capacity: -10.3%;
• Operating costs: -13.3%
• Operating loss: EUR37.8 million, compared with an operating loss of EUR74.8 million in the previous corresponding period. [more]

Aer Lingus: "We are satisfied with the forward booking profile for our long-haul operations for the forthcoming months. While we currently see a modest decrease in the short-haul booking profile for the summer months, compared to 2009, Aer Lingus continues to generate higher yields in its short haul operation compared to last year ... We are encouraged by the group's trading performance in the first five months of the year, however, given the broader economic environment it is appropriate to remain cautious on the group's 2010 full-year performance," Colm Barrington, Chairman. Source: Company statement, 19-Jun-2010.