Aer Lingus has announced an operating loss of €81m last year, while ticket prices fell 16.8% compared to 2009.

The average short haul fare in 2009 was €77, compared to €88 in 2008, while the average long haul fare fell from €304 in 2008 to €256 last year.

The Irish airline was due to release its full preliminary results today (March 9), but has postponed the announcement due to a cabin crew dispute.

Aer Lingus has made proposals for a €97m saving in costs, but this has been rejected by the cabin crew union IMPACT.

The preliminary results contain a "restructuring charge that is consistent with the agreements reached with union representatives, and recommended by them to their members, in relation to the Company's planned €97m cost savings programme," explained Aer Lingus.

"Aer Lingus is determined to achieve the annualised cost savings of €97m targeted by the cost reduction programme over the period to 2012. These savings are vital to realign the cost base of the Company and position Aer Lingus for a successful future."

The company's board of directors are meeting today to "formally approve the steps that will now be taken to achieve these cost savings", said the airline.

(Source :ABTN)