Business: Good week - Bad week

Good week

© Aer Lingus

AER LINGUS Not only has the Irish flag carrier received a visit from Ireland’s Taoiseach Enda Kenny to celebrate the 75th anniversary of its first flight, from Baldonnel to Bristol on 27 May 1936, it has also been boosted by the suspension of a strike by its pilots. Industrial action was due to start on 7 June but has now been pushed back to 1 July to allow time for a proposed solution into the simmering row over duty rosters to be implemented by management.

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Bad week

© Rex Features

AIRLINES Rising oil prices, natural disasters and unrest in the Middle East and Africa pushed the International Air Transport Association to cut its 2011 industry profit by more than half to $4 billion. Carriers made an $18 billion profit last year, but will spend an extra $10 billion on kerosene this year. They are not all losing money, but IATA boss Giovanni Bisignani said: "With a dismal 0.7% margin, there is little buffer left against further shocks."

 

 

Source: Flight International