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Aer Lingus quarterly sales drop 10 percent
November 9, 2009
Irish airline Aer Lingus said on Monday that sales fell by 9.7 percent in the third quarter, reflecting "poor market conditions."
While there was a 10 percent increase in short-haul passenger traffic, long-haul traffic dropped 13.2 percent in the three months to September 30 compared with the figure for the third quarter of 2008, the loss-making companysaid in a statement.
The airline announced last month that it planned to save $145 million a year by 2011, largely by cutting nearly 700 jobs and staff pay.
Many of the world's commercial airlines are suffering as a weak global economy curbs demand for flying.
Aer Lingus said on Monday that its average passenger revenue fell by 14.8 percent in the third quarter.
"Yields continue to reflect the poor market conditions and weak economic environment," it said in the statement.
"While the fall in yield year-on-year continues, the pace of decline in average fares does not appear to be accelerating currently."
The carrier added that it needed to continue cutting costs to cope with falling fares. - I-Net Bridge
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