Aer Lingus has ‘too many resources’ amid Covid pandemic, airline warns

Aer Lingus has “too many resources and will need to adapt”, the airline said on Friday, as it continues to grapple with the impact of widespread Covid-related limitations on its services. It highlighted travel restrictions in the Republic, which it described as “the most stringent” in Europe. “These restrictions, and the absence of a Government-approved re-start plan for aviation in Ireland that clearly sets out the metrics that will allow international travel to resume, means that airlines are unable to plan their business and the bookings for the summer are low,” Aer Lingus said. It went on to say it has too many resources “and will need to adapt and right-size and right-shape its structure” so that it can emerge from the pandemic as “a more productive and cost-efficient organisation than it was previously”. Aer Lingus-owner IAG drew down the remainder of an agreed E150m debt facility provided by the State during Q1. Having drawn down an initial E75m in the last three months of 2020, the airline’s parent drew down the remainder of the financing recently.<br/>