Irish operator Aer Lingus has reported pre-tax losses of €20.8 million for the first half of the year.

The figures show a significant narrowing in losses for the company from the figure of €81.7 million recorded last year and in fact represents a 74 per cent improvement.

In the second quarter of the year,  the popular Irish airline recorded a pre tax profit of €15.4 million, something which may help raise the prospect of the company breaking even by the turn of the year.

The airline has revealed several factors have helped to benefit its current financial position, including a drop in fuel costs, staff costs and overall operating costs.

Aer Lingus Chief Executive Christoph Mueller is approaching the results with cautious optimism:

“Looking to 2011, it remains too early to provide firm guidance on the group’s expected performance.

“Yields and passenger volumes will be dependent on the economic outlook in our main markets which remains uncertain. However, we expect ongoing improvement in our cost base in 2011 as we continue to implement the Greenfield cost reduction programme.”

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