Spanish engineer and businessman, CEO of International Airlines Group since 2020
Aer Lingus has announced a transformation plan to cut costs and 6% of capacity, targeting a 12-15% operating margin as fuel costs and macro challenges weigh on earnings. The carrier will cut 290 head office jobs plus 70 pilot and 140 cabin roles, removing several unprofitable routes, with more changes expected through 2027.
Airlines are grappling with surging jet-fuel costs and geopolitical headwinds that have eroded profits in the second quarter. Wizz Air, El Al and IAG have all reported weaker earnings even as passenger numbers rebound, with fuel bills rising sharply and some carriers warning of a challenging outlook for the rest of the year.