Airline’s shares soar by 3.5%

AER Lingus shares rose 3.5% yesterday following the jump in 2007 profits but the airline was cautious on the outlook for earnings this year.

Announcing the 16.4% rise in operating profits, which was ahead of market forecasts, chief executive Dermot Mannion said the airline was reluctant to give any detailed forecast so early in the year.

Bookings, he said, were in line with last year, but higher oil prices and uncertain economic sentiment in its main markets meant the airline was operating in challenging times.