Pilots' action 'to cost Aer Lingus €55m'
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Recent industrial action by Aer Lingus pilots is expected to cost the airline at least €55m (£46.5m), the airline has said.
The figures are contained in the company's latest set of financial results, as reported by Irish broadcaster RTÉ.
The pilots' pay dispute led to the cancellation of 610 flights due to a two week work-to-rule and an eight-hour strike.
Last week, members of the Irish Air Line Pilots' Association (IALPA) voted in favour of accepting Labour Court proposals which included a pay increase of 17.75% over four years.
Review of parts of the network
Pilots initially demanded a 24% pay rise, arguing their pay has not kept up with high inflation levels since their last pay increase in 2019.
In a statement on Thursday, Aer Lingus said: "The industrial action will have an expected €55m direct financial cost to the business over quarter two and quarter three, before including the impact on forward bookings.
"Following the resolution of the pilot pay dispute through a Labour Court recommendation which delivered structural change for the business, Aer Lingus is assessing the implications of the financial damage caused by the dispute in the context of the current competitive environment and the passenger cap at Dublin Airport.
"This will include a review of the weaker parts of the airline's network and its cost base."
Aer Lingus’ operating profit for the second quarter of 2024 was €92m (£77.5m), down by €29m (£24.5m) compared to the second quarter of 2023.
The airline made an operating loss of €82m (£69m) in the first quarter of the year resulting in an operating profit for the first half of 2024 of €9m (£7.5m).
Aer Lingus said its results in the second quarter of the year were impacted by market pressures across the Atlantic and the recent industrial action by pilots.
"Competitors across the Atlantic increased their capacity into Ireland by 20% this summer, putting pressure on Aer Lingus’ long-haul revenues, particularly in the economy cabin," it said.
Unions representing other groups of workers at Aer Lingus met on Thursday to discuss the implications of the pilots' pay deal for their members.