Aer Lingus upgraded (13-Oct-2010) its full-year operating profit, before exceptional items, to be at the top end of market forecasts after reporting the group’s trading in 3Q2010 and in Sep-2010 in particular has been stronger than expected due primarily to improved yields and with forward revenues for Oct-2010 and Nov-2010 ahead of expectations. The carrier warned, however, that forward revenues for Dec-2010 and 1Q2011 is expected to be weaker. [more]
Aer Lingus: “Looking ahead to 2011, Aer Lingus shares the concern expressed recently by the International Air Transport Association (IATA) and other commentators that that the durability of the current aviation sector upturn is in increasing doubt in both Europe and North America and that growth will slow in 2011. For Aer Lingus, weakness in North America and Europe would be further compounded by the weakness of the Irish economy. Completion of the Greenfield cost reduction programme, therefore, remains vital if 2010 profitability is to be sustained into 2011 and for the longer-term,” Company statement. Source: Aer Lingus, 13-Oct-2010.