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International Consolidated Airlines Group (IAG) on February 26, 2021 presented Group consolidated results for the year to December 31, 2020. COVID-19 situation and management actions: • Passenger capacity in quarter 4 was 26.6 per cent of 2019 and for the full year was 33.5 per cent of 2019 and continues to be adversely affected by…
State intervention may be needed to ensure Aer Lingus survival – Doherty
26th February 2021 - Regina Doherty
State intervention may be needed to ensure the future viability of Aer Lingus and the job prospects of its 4,000 employees, a Fine Gael Senator has said.
Speaking after the publication of International Airlines Group’s annual results, Senator Regina Doherty has called for a cash injection to Aer Lingus to ensure that the company stays active and ready to return to its previous levels when safe travel is allowed.
Senator Doherty said: “As an island nation so reliant on our links and relationships around the world, securing our connectivity post-Covid is hugely important, and a strong Aer Lingus must be a part of it.
AER Lingus has already cut 500 jobs and is currently finalising an additional 84 redundancies as it grapples with the impact of the Covid pandemic.
The losses represent more than a tenth of the 5,000 people the airline employed at the end of June last year.
Its interim CEO, Donal Moriarty, confirmed the extent of the job losses this morning as Aer Lingus owner IAG revealed the scale of losses inflicted on the Irish carrier during 2020.
Aer Lingus plunged to a €563m loss last year, which included €202m of exceptional items. It had made a €276m pre-exceptional operating profit in 2019. Its passenger revenue slumped 81.4pc to €382 last year, while cargo revenue jumped to €88m in 2020 from €34m.