Aer Lingus - 5
Join Date: Jul 2007
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Aer lingus will be departing noc 1 hour earlier over for the winter at 2.15pm every day/Load factor again at 70 % for june .Pretty good considering 3 daily services to london from ryanair. Would be good to see aer lingus take over the bhx and man routes from knock should anything happen to bmi baby once its takeover from lufthansa is completed.
Ryanair will be operating a morning and evening service to stn with the usual 11.30 departure to ltn. So a good spread of departures through the day from noc.
Ryanair will be operating a morning and evening service to stn with the usual 11.30 departure to ltn. So a good spread of departures through the day from noc.
Join Date: Feb 2004
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racedo, a very interesting post re EIN financials. As I understand the current situation EIN have made no forecast for the year end result. As a minimum that means that the outturn will be worse than the appaling 2008 result. If you add to the 2008 result the forecast of cash decline in the range of 250 million Euros you get a 2009 loss of around 450 to 500 million euros. That seems to be before further exceptionals relted to the inevitable cutback in transatlantic services this autumn. That will ground 2 more aircrfat and associated crew. The costs of that will have to be taken this year. Then you have the problem of BFS where the initial route selection did not work and there they are being hard pressed by both RYR and EZY ( a situation few would even dare to contemplate). Then there is Gatwick where they they have chosen to take on EZY on new routes. That is a battle that EZY will win. It just seems to me that EIN management are not facing reality.
If the cash is down to 200 Euros at year end they really are looking at an abyss. 200 million left and probably 5 months to go threough waht looks like being the worst airline winter ever before they can possibly beome cash positive. There is no possibility of a rights issue (irish government do not have the money, ESOP do not have the money, RYR do but whay would they subscribe? )so borrowing is the only option. That is more costs with lenders being in a very powerful to take over ownership of any assets.
After that is the following winter!!!
On top of all that the pilot's investment has all but been wiped out. Not a happy situation. They must be a happy bunch.
Survival is surely the name of the game now and we have seen no signs of that in any management statement. The new CEO will have a blooding of fire!!
If the cash is down to 200 Euros at year end they really are looking at an abyss. 200 million left and probably 5 months to go threough waht looks like being the worst airline winter ever before they can possibly beome cash positive. There is no possibility of a rights issue (irish government do not have the money, ESOP do not have the money, RYR do but whay would they subscribe? )so borrowing is the only option. That is more costs with lenders being in a very powerful to take over ownership of any assets.
After that is the following winter!!!
On top of all that the pilot's investment has all but been wiped out. Not a happy situation. They must be a happy bunch.
Survival is surely the name of the game now and we have seen no signs of that in any management statement. The new CEO will have a blooding of fire!!
Join Date: Aug 2007
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Aer Lingus carried 7336 passengers on the LGW-NOC route in June, down on the performance in May which saw 7560 passengers use the route but still very respectable considering May had a number of bank holidays and a half term break whereas June had none of that to boost passenger numbers. The load factor for the route seems to be hovering around the 65-70% mark.
Aer Lingus made a pre-tax profit of €21.2m and an operating loss of €17.6m last year.
How on earth is that supposed to turn into a loss of €450 million?
How on earth is that supposed to turn into a loss of €450 million?
http://www.aerlingus.com/Corporate/2...port_FINAL.pdf
They include the redundancy and reorganisation costs within the total of €140 M as an Exceptional item but it still has to be paid for out of cash.
I think Colegate was unduly pessimistic but in 1st Quarter Aer Lingus own statements indicated revenue down by 10%, second quarter probably not as bad but their costs relative to everybody else will still be high where as their average fares have decreased.
1/2 Year results out in a couple of weeks and likely to be very poor judging by Barrington's statement at their AGM, things could have turned around dramatically since beginning of June but don't think that is the case.
Join Date: Mar 2005
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That loss includes exceptional items and the nature of exceptional items is that they don't occur year on year. Certainly, there could be other exceptional items, but you can't use last year's figure as a guide.
Judging by the talk of fare changes etc. they're heading for a pre-tax loss before any exceptionals of 70-90 million this year.
Judging by the talk of fare changes etc. they're heading for a pre-tax loss before any exceptionals of 70-90 million this year.
840
No idea of their forecast position but your figures don't look unreasonable, only time will tell.
The cash situation will be critical as if they lose that amount it will need to be funded from Cash, add to it the restructing costs and capital investment and they potentially could have halved their cash before borrowing.
No idea of their forecast position but your figures don't look unreasonable, only time will tell.
The cash situation will be critical as if they lose that amount it will need to be funded from Cash, add to it the restructing costs and capital investment and they potentially could have halved their cash before borrowing.
Join Date: Jul 2006
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Aer Lingus appoints Chief Executive Officer
Dublin, 17 July 2009
Aer Lingus today announced the appointment of Mr Christoph Mueller as its Chief Executive Officer (CEO). Mr Mueller (47) was most recently the Aviation Director at TUI Travel plc, a leading international leisure travel group operating a pan-European airline with over 160 aircraft. Mr Mueller will join Aer Lingus as CEO on 1 October 2009. He will also be nominated to the Board of Directors.
Christoph Mueller has extensive experience within the aviation industry, having held senior positions in Daimler Benz Aerospace, Lufthansa AG, the Sabena Group, DHL and Deutsche Post AG, prior to his roles at TUI Travel plc. He served as the Chief Financial Officer of DHL Worldwide from 2002 to 2004 and became a member of the Executive Committee of Deutsche Post AG in 2004.
In January 2006, Christoph joined the Executive Committee of TUI AG with responsibility for their flight division. In 2007, TUI AG merged its travel division with First Choice Holidays PLC to form TUI Travel plc, a leading international travel group listed on the London Stock Exchange and a member of the FTSE 100. Christoph served as Executive Director, Aviation, at TUI Travel plc, where he managed a total of seven separate airlines, a fleet of 160 short-haul and long-haul aircraft and a team of 11,000 employees.
Colm Barrington, Aer Lingus Chairman commented, “We are delighted to announce the appointment of Christoph Mueller as our new Chief Executive. We conducted a thorough and rigorous recruitment process and have chosen a candidate with a proven track record within the aviation industry. Christoph has the experience and the skill-set to lead the Aer Lingus team through what is an unprecedented operating environment and to make the changes that are required at Aer Lingus.”
Christoph Mueller, Aer Lingus CEO designate, added, “I look forward to taking on the role of Chief Executive at Aer Lingus and am very pleased to have been offered the opportunity. The company has an internationally renowned brand and while there are many challenges ahead, I am excited about the medium term prospects for the business.”
Mr Christoph Mueller appointed CEO
Dublin, 17 July 2009
Aer Lingus today announced the appointment of Mr Christoph Mueller as its Chief Executive Officer (CEO). Mr Mueller (47) was most recently the Aviation Director at TUI Travel plc, a leading international leisure travel group operating a pan-European airline with over 160 aircraft. Mr Mueller will join Aer Lingus as CEO on 1 October 2009. He will also be nominated to the Board of Directors.
Christoph Mueller has extensive experience within the aviation industry, having held senior positions in Daimler Benz Aerospace, Lufthansa AG, the Sabena Group, DHL and Deutsche Post AG, prior to his roles at TUI Travel plc. He served as the Chief Financial Officer of DHL Worldwide from 2002 to 2004 and became a member of the Executive Committee of Deutsche Post AG in 2004.
In January 2006, Christoph joined the Executive Committee of TUI AG with responsibility for their flight division. In 2007, TUI AG merged its travel division with First Choice Holidays PLC to form TUI Travel plc, a leading international travel group listed on the London Stock Exchange and a member of the FTSE 100. Christoph served as Executive Director, Aviation, at TUI Travel plc, where he managed a total of seven separate airlines, a fleet of 160 short-haul and long-haul aircraft and a team of 11,000 employees.
Colm Barrington, Aer Lingus Chairman commented, “We are delighted to announce the appointment of Christoph Mueller as our new Chief Executive. We conducted a thorough and rigorous recruitment process and have chosen a candidate with a proven track record within the aviation industry. Christoph has the experience and the skill-set to lead the Aer Lingus team through what is an unprecedented operating environment and to make the changes that are required at Aer Lingus.”
Christoph Mueller, Aer Lingus CEO designate, added, “I look forward to taking on the role of Chief Executive at Aer Lingus and am very pleased to have been offered the opportunity. The company has an internationally renowned brand and while there are many challenges ahead, I am excited about the medium term prospects for the business.”
Join Date: Oct 2006
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I think all Irish people wish him well, with perhaps the exception of one.
It is a surprise appointment as I personally hadnt seen his name being mentioned in the build up. Hopefully he can first stop the rot and then after a spell get things moving in the right direction again.
It is a surprise appointment as I personally hadnt seen his name being mentioned in the build up. Hopefully he can first stop the rot and then after a spell get things moving in the right direction again.
Join Date: Sep 2007
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Why does BFS get all the abuse for EI's poor performance recently? EI is failing because of DUB being too high cost ...if EI was operating DUB the way it does BFS/LGW then it might just be doing well at the minute! All of the BFS routes are doing well and that is not because seats are cheap they are actually higher than alot of the competition but they are still the choice of alot of Norn Iron people!
Join Date: Apr 2009
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Why does BFS get all the abuse for EI's poor performance recently?
In order to get a full understanding of how well BFS is performing (or not as the case may be) you need to see the yields as a whole. Taking a handful of flights and noting good loads or a few web searches here and there and finding a high ticket price is relatively meaningless unless you have the full financials in front of you for the year. Don't forget it is summer as well so generally the loads would be up as people escape.
Furthermore, BFS is losing an aircraft for the winter which would imply that the aircraft can be better utilised elsewhere.
Add the poor performance of the Atlantic confirmed by the slash and burn of routes coupled with all of the dire economic data concerning a complete lack of inward tourism and it pretty much sums up EI's position. No different to what anyone is suffering at the moment in the recession.
Did I mention that they also hedged at a ridiculously high level which has potentially cost the airline 150m? Could well have turned a small profit in line with expectations this year had some clowns done their job properly.
Join Date: Aug 2007
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Aer Lingus seem more confident about Belfast this year, there's none of that "it is performing to expectations" that was spouted about last year.
Aer Lingus looks at extra flights to the Canaries - Business News, Business - Belfasttelegraph.co.uk
All routes probably perform well during the summer but the winter is where Aer Lingus really struggle at Belfast and although the route cuts over winter don't look pretty, it should at least improve the overall performance until things start to improve.
Aer Lingus looks at extra flights to the Canaries - Business News, Business - Belfasttelegraph.co.uk
All routes probably perform well during the summer but the winter is where Aer Lingus really struggle at Belfast and although the route cuts over winter don't look pretty, it should at least improve the overall performance until things start to improve.
Join Date: Apr 2004
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EI at BFS
As far as i am aware the BFS aircraft and one Dublin 320 are not being re allocated for the winter. The BFS base is probabably affected by the recession more than any other factor. It is in the airports and the publics interest to have as many airlines as possible competing with each other rather than allow a dominant carrier get a grip on the traffic.
Join Date: Sep 2005
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EI charter an FR737
According to a report I read in June Aer Lingus, due to an aircraft shortage, chartered a Ryanair 737 to operate a DUB-Palma-DUB flight. Just wondering what was the situation at DUB:
1. Is this the first time EI has chartered an FR?
2. Which airline would have handled loaded and dispatched the aircraft being of a type not operated by EI?
3. Assuming there was catering onboard would EI or FR have supplied the food?
4. How many of the fully paid up members of the "I'll never fly with Ryanair" brigade refused to board the aircraft when they saw it at their gate?
1. Is this the first time EI has chartered an FR?
2. Which airline would have handled loaded and dispatched the aircraft being of a type not operated by EI?
3. Assuming there was catering onboard would EI or FR have supplied the food?
4. How many of the fully paid up members of the "I'll never fly with Ryanair" brigade refused to board the aircraft when they saw it at their gate?
Join Date: May 2007
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FR Charter
No it is not the first charter
I flew back from DUS a few years ago on EI, and the aircraft was a hired FR 737.
It was in the days of business class and the only service was a dreadful offering in a plastic box. Still we got home on time and the crew were fine.
Of course these were the days FR offered some sort of Customer Service.
I have never flown with them since
I flew back from DUS a few years ago on EI, and the aircraft was a hired FR 737.
It was in the days of business class and the only service was a dreadful offering in a plastic box. Still we got home on time and the crew were fine.
Of course these were the days FR offered some sort of Customer Service.
I have never flown with them since
Join Date: Nov 2006
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Interesting comment about Ryanair operating a flight for Aer Lingus. I recall in the early 90s, Ryanair did quite a few flights ex Dublin for Aer Lingus using BAC 1-11 on routes to Germany and Frankfurt in particular.
EI-BUD
EI-BUD