Aer Lingus: ‘No profit until 2011’

AER LINGUS may not return to profitability until 2011 after announcing that operating losses had quadrupled last year.

The airline’s share price closed flat at 60 cent yesterday following the announcement of operating losses of €81 million for 2009 compared with an operating loss before exceptionals of €20m in 2008.

Despite passenger numbers increasing by almost 4% to 10.4m, revenue fell 11% to €1.21 billion. Ancillary revenue rose 16.2%, however, but cargo and other revenue fell.