Aer Lingus capacity cuts fail to halt another slide in revenues.EMBATTLED em·bat·tled adj. 1. Prepared or fortified for battle or engaged in battle: embattled troops; an embattled city. 2. airline Aer Lingus Aer Lingus is Ireland's national airline. Based in Dublin, it operates 41 Airbus aircraft serving Europe, Africa, North America and the Middle East. The airline is 28% owned by the Irish government; it was floated on the Dublin and London Stock Exchanges on 2 October 2006, has reported a further slide in revenues, but said performance was "stabilising" after efforts to cut aircraft and capacity. The Dublin-based carrier, which last month unveiled plans to cut a fifth of its workforce, announced it was stripping out another plane from its long-haul service, to trim winter and summer 2010 capacity further. Revenues fell 9.7% year on year in the third quarter, although the number of passengers rose 7% and the group said it was filling its planes better, with the load factor up across long and short haul Short distance. Short haul implies traversing a small geographic area such as a few miles at most. Contrast with long haul. See line driver. flights. Fares plunged by 17.6% on average in the three months to September 30 as the airline struggled against the consumer spending Consumer demand or consumption is also known as personal consumption expenditure. It is the largest part of aggregate demand or effective demand at the macroeconomic level. slump. But Aer Lingus, which has been a takeover target Takeover target A company that is the object of a takeover attempt, friendly or hostile. takeover target See target company. for rival Ryanair, said the pace of decline in fares had levelled off and an 8.5% hike in sales per passenger on extra charges for short haul flights, such as checked-in baggage and advanced seat booking, also helped.Aer Lingus aims to shave about (pounds 86.5m off its annual cost base. |
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