Virginblue4 From United Kingdom, joined Jun 2008, 945 posts, RR: 0 Posted (7 years 8 months 1 week 3 days 9 hours ago) and read 6035 times:
Hi everyone. I know that the media is not the best source to get information from but i was just watching a report about Zoom and it was naming airlines that had gone bust including Maxjet and Silverjet. Then is said about airlines currently in trouble and it named Alitalia which we all know about. But then it said Ireland's National Carrier Aer Lingus is also in trouble. Is this true?
Neutral From Ireland, joined Nov 2007, 311 posts, RR: 0
Reply 1, posted (7 years 8 months 1 week 3 days 9 hours ago) and read 6015 times:
I think you need to look at Aer Lingus cash reserves first there are a lot more airlines to go before them.I'd say the papers are reporting on their 6 months loss of 22 million euro with the higher fuel costs etc.
Shamrock350 From Ireland, joined Mar 2005, 6574 posts, RR: 14
Reply 3, posted (7 years 8 months 1 week 3 days 9 hours ago) and read 5988 times:
Aer Lingus lost EUR22 million for the first six months of the year but still have EUR800 million in reserves but they don't want to touch that so a new cost cutting plan is due to be announced soon. So I wouldn't say that Aer Lingus is "in trouble", it's just hitting a rough patch like many airlines are but EI are in a strong position to tackle these challenges facing them, they can't waste any time though and have to act fast.
Over at the Irish thread theres a bit of discussion going on about it.
Kaitak From Ireland, joined Aug 1999, 13245 posts, RR: 34
Reply 7, posted (7 years 8 months 1 week 3 days 6 hours ago) and read 5489 times:
MO'L can't buy any more of EI anyway. His plans to buy EI have failed and hiws best option is to hang onto his EI holding. Although EI has taken steps (failed) to force him to sell it, it is actually quite safe for EI to have FR having such a large holding; after all, you're not going to try and put a competitor out of business if you have a nearly 30% stake in it!
However, going to the main point of this thread, EI is a LONG way from being Zoom or Alitalia; it has significant cash reserves and while it may well experience losses for the full year, as many other airlines will, it will survive and thrive.
David_itl From United Kingdom, joined Jun 2001, 7798 posts, RR: 13
Reply 8, posted (7 years 8 months 1 week 3 days 6 hours ago) and read 5489 times:
Quoting ADRIANGALT (Reply 4): I guess Mr O'Leary is waiting to pounce, to safeguard his investment!!!!!
Reckon he's trying to come up with more schemes to get money out of travellers flying with FR whilst the poor saps flying them believe the mantra of no fuel surcharges whilst paying for all manner of things which quite a number of other airlines don't charge for! Remember FR may not make much money with high fuel prices.