Aer Lingus saw its operating loss for the first quarter of the year almost halve to €37.8 million against €74.8 million for the same period in 2009.
Average fares were higher on short-haul and long-haul operations, the irish carrier reported.
Gross cash balances increased by €90.4 million since December 31 to €918.9 million.
Short haul bookings for the second quarter are “broadly equivalent’” to last year but are being achieved at higher yields following capacity cuts.
Savings of €18 million have been made through staff savings.
The Irish carrier admitted that its second quarter performance will be “significantly impacted” to around €20 million by airspace closures due to the volcanic ash cloud.
CEO Christoph Mueller said: “We are very encouraged by first quarter trading, it is nonetheless appropriate to remain cautious on full year 2010 performance.”
by Phil Davies
