Aer Lingus are running out of cash, as they have said? It appears that they are approaching bankruptcy.
Thats a completely ridiculous statement. You obviously don't have much knowledge of the facts. Aer Lingus are burning cash, but they're sitting on a cash mountain of several hundred million EURO so they can continue to bleed cash at the same rate until 2012 as was mentioned above.
Unless Aer Lingus makes drastic cuts NOW, they will not be here in 24 months time.
Contrary to what you've been saying Aer Lingus have made cuts, they've axed 3 Trans Atlantic routes, and made cuts on several others. They've pulled two aircraft, one from Dublin and one from Belfast, and from what I hear they've been trying to either cancel their orders for long haul aircraft, or convert them to A320s (to replace leased aircraft). The mandate of the new CEO will undoubtedly be to make further cuts. Its still amazing to hear the Ryanair briggade proclaiming how Aer Lingus is going bankrupt because its losing money when Ryanair posted a bigger losss last year than Aer Lingus did (Ryanair posted a €169M loss last year while Aer Lingus posted a €120M loss)!