Aer Lingus cut its profit forecast for the year by 13 percent.

 
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New York (AirGuideBusiness - Business & Industry Features) - Fri, Sep 13, 2013

Aer Lingus cut its profit forecast for the year by 13 percent on Friday Sept. 13 citing intense competition in European short-haul markets days after rival Ryanair also warned on profits. Aer Lingus expects profits for the full year to be around EURU60 million, it said in a statement, down from a forecast of EURU69 million (USD$91.83 million) it made at the end of July. At the time Aer Lingus reported weak bookings in July and August due to unusually warm weather in Ireland, but said it hoped to make up for that in the remaining months of the year. "The current booking profile for the rest of the year suggests that despite more aggressive pricing in response to market conditions, it will not be possible to recover lost volumes," Aer Lingus said on Friday. Aer Lingus said the pricing environment was intensely...

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