Investor presentation:
http://www.aerlingus.com/Corporate/P...ion_290310.pdf
Slide 26:
"Short haul performance for 2009 is broadly break-even despite significant losses generated by the Gatwick base... Gatwick losses were deemed unacceptable by management"
"Short haul trading in Dublin and Cork was broadly satisfactory"
"While Belfast was loss-making in 2009, it is a new base and is trading on an improving trajectory"
"we are likely to still incur long haul losses in 2010
Interesting that in total for 2008 and 2009 EI will have spent €205 Million in getting rid of staff. The Greenfield plans will cost €77 million but even after that their cost base will be 8% higher than Easy and 92% higher than FR.
Still a long way to go.