Aer Lingus privatisation ‘will be in 2006’

AER LINGUS profits will fall by up to 50% this year, but the privatisation of the airline should happen by the end of 2006.

Chief executive Dermot Mannion said the surge in oil prices over the past year had cut profits, but hoped new routes would make up for some of the decline. He said the 24 short-haul routes launched since January 2004 were profitable.

Mr Mannion, who took on the chief executive's role in August, said the first of planned new long-haul routes would be announced soon. The airline expected to fly to either the Middle East or Asia.