Aer Lingus shares down by 5.7%

Shares in Aer Lingus fell by 8% in early trading yesterday, after the airline said lower bookings — due to the hot summer — will probably shave around €9m off its profits this year.

“The current booking profile for the rest of the year suggests that, despite more aggressive pricing in response to market conditions, it will not be possible to recover lost volumes experienced in July and August, as a result of the warm weather,” the company said yesterday in its latest trading update.

It added that while “trading visibility” is limited, assuming that recent market conditions continue for the remainder of 2013, Aer Lingus’s full-year operating profit should be around €60m; although third-quarter profit should be ahead on a year-on-year basis.