Flight ban costing Aer Lingus €5m per day
Published 20/04/2010 | 11:04
Aer Lingus said today the six-day flight ban could cost the airline up to €30m.
The carrier has cancelled more than 1,100 services since the Icelandic volcano began erupting last Thursday.
Management said it was costing up to €5m a day to keep its planes on the ground, reschedule flights and offer stranded passengers options to rebook or get refunds.
But despite the concerns over massive losses, the airline told investors in a stock exchange announcement that the airline had enough money to cope with the shutdown.
"The Group has substantial cash reserves and can withstand a sustained closure of airspace," the company said.
Aer Lingus said it lost up to €20m in the first five days of the airspace shutdown but added that day-to-day losses for the rest of the week will depend on the pattern of cancellations.