EI Operating loss was €50m in first half and initially projected loss of another €20m in second half
Eh, actually the first half loss was 22.3 million to be exact, not 50 million. 17.6 million of this 22.3 million was paid to staff under the PCI agreement of '07 to lower staff terms and conditions of employment under new work regimes.
(Page 6 of the presentation to shareholders).
The savings from the so called PCI '07 were not going to be begin until the latter part of the year in conjunction with new maintenance agreements beginning in November. The overall cost of this 'compensation' payment was considered in the first half results and not over the course of the full financial year, possibly to help the negotiations with it's staff on the agreement just reached recently to help post a bleak outlook and force a more determined negotiation on the then draft proposal for contracts.. 50 million as a loss was never mentioned.
LINK TO HALF YEAR RESULTS
On the 22th November 2008 Aer Lingus issued an interim management statement to the Stock exchange which stated that their overall projected loss for the full financial year would be 20 million, and not 30 million as previously projected earlier in the year.
LINK
Everyone is entitled to their personal opinions on this subject but it would be nice if those posting could do a little research when posting wild figures which turn out to be completely wrong. It took only five minutes to research the above figures from the Aer Lingus website.