Airline hopes to beat profit forecast

Dublin: Aer Lingus expects to beat its full-year profit forecast, Chief Executive Willie Walsh said. The state-owned airline said passenger numbers increased as the airline cut costs by 30% and reduced fares.

Aer Lingus expected earnings before interest and tax of at least 75 million in 2003, Mr Walsh told an air transport conference in London. The airline is also adopting an all-Airbus fleet and expects half of bookings to be made over the internet by the end of the year in further cost-cutting moves.

Rise in exemption threshold urged/

Dublin: The Institute of Chartered Accountants in Ireland said the Government must respond to the raising of the audit exemption threshold in Britain. The British threshold was raised from £1 million to £5.6 million earlier this week. In Ireland, the exemption applies to companies with turnover lower than 317,000.

ICAI president James Hunt said Irish companies were at a serious disadvantage compared to their UK competitors.

The ICAI called for an increase in the exemption threshold to the current rate in the North of 1.5 million.

Innovation challenge.

Dublin: Tánaiste and Minister for Enterprise, Trade and Employment, Mary Harney, opened the 8th National Innovation Conference, organised by Forfás, yesterday. The conference focused on exploring the need for cooperation and partnership between education, enterprise and Government in the development of Ireland’s innovation environment.

The Tánaiste said building innovation capacity was a fundamental long-term development challenge facing Ireland. She added that our ability to innovate would determine how successfully the country could compete in the future global marketplace.

Energy demand up in services sector.

Dublin: Energy expenditure in the services sector now exceeds 1 billion and urgent action will need to be taken if it is to improve its performance and reduce its exposure to the proposed carbon tax, a Limerick conference was told yesterday.

Kevin O’Rourke of Sustainable Energy Ireland was speaking on achieving energy sustainability in the built environment.

“After transport, the services sector is the fastest-growing sector in terms of energy use and greenhouse gas emissions in the Irish economy, with energy demand growing by 30% in the four years to 2002.”