Aer Lingus shares crash

AER LINGUS has had yet another management shakeup as the airline reported a quarterly revenue fall of 16% and passengers down by 6.5% on a year-on-year basis.  Shares one day last week crashed 20%.  The loss-making airline, whose Chief Executive resigned earlier this month, said it was reviewing a range of options, including its long haul capacity to reduce operating costs.  At the same time, as ever mischief-making, Ryanair changed tack and said it was not interested in acquiring the carrier, something that in any event had been ruled out by the Irish government.  However, Ryanair has a 30% shareholding in the company and currently says it will sell at the right price. www.aerlingus.com

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