Aer Lingus pulls forward board meeting

The Sunday Business Post reports that the Aer Lingus April board meeting is to be pulled forward to this week as the company attempts to come to terms with the adverse reaction of institutional investors to the current share price. Following the announcement of the 2008 financial results which saw losses touching €120m and the failure of the Ryanair €1.40 per share bid, Aer Lingus' share price has taken somewhat of a hammering in the markets. Last Friday the shares closed at €0.59.

Aer Lingus cash pile of €650m has come under pressure of late and is forecast to shrink to €400m this year. As a result the Business Post reports that the airline is considering scaling back on capital expenditure this year, including deferring aircraft deliveries.