Bloxham: Aer Lingus must cut 800 jobs

AER Lingus must cut 800 jobs as urgent restructuring is needed at the airline, according to Bloxham Stockbrokers, which downgraded the airline yesterday.

Bloxham said in order to avoid a financial crisis at the airline, costs need to fall by a quarter to “bring unit expenses in line with competitors”.

It said that implies a €250 million reduction in ex-fuel costs and has to include a sharp 20% reduction in the group’s workforce, equivalent to 800 employees.