Europe. (ATW's World Airline Report).(financial and management developments for European...

AER LINGUS: The Irish national carrier made an unexpected recovery in 2002 and reported a net profit of [euro]35.3 million compared to a loss of [euro]139.9 million in the prior year. Operating margin was 6.7% versus a negative 4.7% in 2001. Chief Executive Willie Walsh followed what he called "avery clear and simple business strategy" encompassing relentless and aggressive cost-cutting and a major reduction in both business and leisure fares. In a move visibly copied from Ryanair, aerlingus.com became the airline's primary sales channel.

Ferry operator Irish Continent