Aer Lingus Reports Fall in Quarterly Yields

Aer Lingus, the popular Irish budget airline, announced Monday that revenue for the company had dropped by 9.7 percent since September 30. Over the past three months the airline has incurred increasingly lower profit margins.

The airline said that their current yields continue to reflect the weak market conditions which the airline industry is currently suffering. The airline also reported that their short-haul averages for the last three months have also decreased by a total of 12.3 percent. Long-haul averages have not fared any better falling a total of 17 percent.

The airline added that the increasingly lower profits is forcing them to remove yet another A330 aircraft from their long haul services. This will decrease the airlines fleet to five units for their winter months flights and only six units for their peak summer 2010 period.

The airline said that each year yields for the industry have been consistently falling, but they did add that the pace at which rates are falling does not seem to quickening despite the harsh economic climate. The airline industry has been one of the hardest hit industries during the downturn. Most major airlines have been forced to make cut backs due to the recession coupled with increases in taxes to curb greenhouse gas emissions.