Aer Lingus profits go sky high

AER LINGUS will announce better than expected profits for 2002 in the coming weeks with chief executive Willie Walsh disclosing yesterday he expects profits to exceed €45 million.

These profits will exceed the airline’s most recent operating profit forecast, but he stressed this would not weaken the company’s resolve to further cut costs, lower fares and improve profitability.

Mr Walsh’s said the national airline’s performance in 2002 has been based on a relentless and aggressive reduction in its cost base and market stimulation through greatly reduced business and leisure fares.