Aer Lingus reports €108m loss for last year

Aer Lingus has reported an after-tax loss of almost €108m for last year.

Aer Lingus today reported losses of almost €108m for last year, blaming high fuel prices and the company’s massive long-term cost-saving plan.

The airline said it expects fares to fall by 10% this year but management also warned they are preparing for bigger losses by the end of 2009.

Aer Lingus chief executive Dermot Mannion described last year as extremely challenging.

“Falling consumer demand in key markets, a weakening dollar and sterling, and increased competition across the network combined to put sustained and significant pressure on our business throughout the year,” he said.

The airline made a profit of €105m in 2007.