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Ballots will delay Aer Lingus results

Aer Lingus ballot delay - Airline 'determined' on costs
Aer Lingus ballot delay - Airline 'determined' on costs

Aer Lingus is to delay the publication of its financial results for 2009 - which were due to be published tomorrow morning - following the outcome of recent union votes on its restructuring plan.

Three of five unions have voted in favour of the €97m cost-cutting plan, but cabin crew represented by IMPACT voted against it. Earlier, it also emerged that the results of a ballot of craft workers would not now be made known until tomorrow morning.

This afternoon, Aer Lingus said its results contained a restructuring cost calculated on the basis of the plan agreed with unions and recommended by them. The airline said these figures would now have to be changed.

Aer Lingus said that, despite the outcome of the IMPACT ballot, it was determined to achieve the savings set out in its cost saving programme. Its board is to meet tomorrow 'to formally approve the steps that will now be taken to achieve these cost savings'.

The airline has warned that it may have to impose 1,100 compulsory redundancies and cut routes if workers do not sign up to the cost cutting plans.

Analysts had expect Aer Lingus's results to a loss of €85m last year. The airline will now issue a brief trading update tomorrow morning, with the full results to be published at a later date.