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To help it meet international capital requirements, the government of Ireland will inject an additional 3.7 billion euro into Allied Irish Banks PLC. The new funding boosts Ireland's ownership of the bank to 90%.

Ryanair Holdings PLC's second-quarter profit increased 32% of 330.3 million euro from 250.5 million euro a year earlier. Revenue jumped to 1.28 billion euro from 992.1 million euro. Ryanair raised its full-year profit forecast to between 380 million euro and 400 million euro.

Allied Irish Banks PLC's efforts to sell its U.K. business were put on hold because of insufficient bids. The operations have a book value of 1.3 billion euro. If Allied Irish doesn't meet capital requirements by March 2001, the Irish government may end taking a stake in the bank of up to 92%.

Ireland home buyers are being drawn to the nation's 'ghost estates' - housing developments that are either unfinished or have gone unoccupied since 2007, when the bubble burst. Ireland's average home price peaked from 75,000 euros in 1996 up to 311,000 euros at year-end 2006; today's average price is slightly more than 200,000 euros.

The Central Bank of Ireland has determined that Anglo Irish Bank will need $46.75 bil (34.3 bil euros) total capital if it encounters a worst-case scenario, but will require 3 bil euros by year-end. The state will be the bank's majority shareholder. Costs associated with bolstering the nation's banks may bring the budget deficit to almost a third of Ireland's total economy.

Brian Lenihan, Ireland's finance minister, stated that the nation's economy has grown slowly this year but is not shrinking despite a drop in gross domestic product for the second quarter. Ireland's GDP dropped 1.2% in the second quarter after posting a 2.2% increase during the first quarter.

Deutsche Lufthansa AG's first-quarter loss widened to 298 million euro from a loss of 267 million euro a year ago. Revenue inched up to 5.8 billion euro from 5 billion euro. Similarly, Aer Lingus PLC's first-quarter operating profit narrowed to 37.8 million from a loss of 74.8 million a year earlier. Revenue slipped 1.8%.

To fulfill governmental capital requirements, Bank of Ireland PLC will raise 3.42 billion euro through a rights issue and the private sale of stock to institutional investors. The bank expects its Tier 1 capital ratio to increase from 5.3% to 8%.

Bank of Ireland PLC reports a net loss of 1.46 billion euro for the last nine months of 2009. The bank posted a profit of 18 million euro for the year ended March 31. Bank of Ireland said it will seek help from international investment banks to raise 2.7 billion euro it needs to meet new capital standards. Separately, Anglo Irish Bank Corp. posted write-downs of 15.1 billion euro and a net loss of 12.7 billion for the 15 months to December 31.

For the quarter ended December 31, Ryanair Holdings PLC's net loss narrowed to 10.9 million euro, compared with a loss of 118.8 million euro a year earlier. Revenue inched up 1% to 612 million euro from 604.5 million euro, while ancillary revenue rose 5.8% to 139.4 million euro. For the full year, Ryanair expects a net profit of 275 million euro.

According to Allied Irish Banks PLC's executive chairman Dan O'Connor, the bank needs to raise more capital in 2010 and may require a cash injection from the government if it fails to raise funds from private sources. The Irish government has already taken a 25% stake in the bank in exchange for a 3.5 billion euro bailout.

Aer Lingus Group PLC's third-quarter revenue dropped 9.7%, non-ticket revenue rose 8.5%, and passenger volume increased 7% to 3.08 million passengers. Average per-passenger revenue fell 15%. The airline has net cash of 399.9 million euro as of September 30. Aer Lingus will cut 676 jobs and plans to cut annual operating costs by 97 million euro by the end of 2011.

Aer Lingus PLC announced plans to cut operating costs by 97 million euro by the end of 2011 by laying off 676 workers and reducing the salary of remaining staff. In September, the airline's passenger traffic inched up 4.1% to 960,000 passengers.

Aer Lingus PLC's first-half net loss widened to 73.9 million euro, compared with a net loss of 21.6 million euro a year earlier. Revenue dropped 12% to 555 million euro from 631.8 million euro. The airline's cash reserves at the end of its fiscal first half fell to 439.6 million euro from 654 million euro at the end of last year. Aer Lingus may have to further cut costs and reduce prices to compete with rival airlines.

Swiss Life Holding AG reports a first-half net profit drop to 139 million Swiss francs from 1.64 billion francs a year earlier. Premium revenue fell 4.6% to 10.39 billion francs from 10.89 billion francs, while shareholder equity rose 2% to 6.75 billion francs. Separately, Irish Life & Permanent PLC reports a first-half net loss of 191 million euro, compared with a net profit of 35 million euro a year earlier. Life premiums are expected to fall between 25% and 30% this year but will grow between 10% and 15% in 2010.

Deutsche Luthansa AG reports a 64% net profit drop to 599 million euro, and an 11% increase in revenue to 24.87 billion euro for full-year 2008. Similarly, Aer Lingus Group PLC's reports a net loss of 107.8 million euro, and a 5.6% increase in revenue to 1.36 billion euro in 2008.

Boosted by strong sales of its drug Tysabri, cost cuts, and tax benefits, Irish pharmaceutical firm Elan Corp. reports a fourth-quarter net profit rise to $169.5 million from last year's fourth-quarter net loss of $83.5 million. Fourth-quarter revenue rose 24% to $270 million, while full-year 2008 revenue increased 32% to $1 billion.

Ryanair Holdings PLC reports a third-quarter net loss of 118.8 million pounds sterling, and a 6.2% rise in revenue to 569.4 million pounds sterling. The airline revised up its full-year profit forecast to between 50 million pounds sterling and 80 million pounds sterling. Article discusses Ryanair's expenses, share value, passenger traffic, and airplane orders.

Two years after an unsuccessful bid for Aer Lingus PLC, Ryanair Holdings PLC launched a new takeover offer for the rival airline in the amount of 748 million euro. Aer Lingus says the offer undervalues the company and has rejected the bid. Article discusses the likelihood of a successful takeover, possible regulator opposition to the merger, and possible integration of the airlines. Aer Lingus's shares rose 14% to close at 1.28 euro, and Ryanair's fell 2.8% to 2.85 euro.

A banking sector reform plan which would include governmental guarantees on some Irish banks and building societies has created a wave of interest from corporate investors seeking to enter the Irish banking industry. In separate negotiations, Bank of Ireland PLC and Irish Life & Permanent PLC are holding talks with prospective investors and business partners.

Affected by high fuel prices, Ryanair Holdings PLC reports a 31% second-quarter net profit drop to 185.8 million euro, and a 20% jump in revenue to 1.03 billion euro. Article discusses Ryanair's costs, and full-year earnings expectations.

Ryanair Holdings PLC announces a 10% net profit drop to $607.1 million for the fiscal year ended March 31 while revenue rose 21% to 2.71 billion euro. Article discusses the effects of high fuel prices on Ryanair's profit, and cost control measures adopted by the airline.

Fiscal third-quarter net profit for Irish airline Ryanair Holdings PLC dropped by 1% to 47.2 mil euro, while revenue increased 16% to reach 569.4 mil. However, the airline warned of the possibility of up to a 50% drop in profit for the next fiscal year due to ticket-price pressure, lower consumer demand, and higher fuel costs.

A decline in the housing market and the global credit crisis, driven by subprime lending woes, has ended a 10-year growth period for Ireland, with the ISEQ index falling 26.1% in 2007.

Irish mining and building materials firm CRH PLC is negotiating the purchase of up to $4.5 bil in assets from Mexico's cement company Cemex S.A. de C.V. The assets would include Cemex's aggregates and concrete pipe businesses, along with Arizona and Florida operations that Cemex has been required to divest after it acquired Rinker Group Ltd.

First-half net profit for Irish airline Aer Lingus Group PLC rose 89% to $9.3 mil, with revenue rising by 13%. Fuel costs and an increase in competition were offset by a rise in net finance income and higher passenger traffic.

Irish budget airline Ryanair Holdings PLC has raised its ownership of Aer Lingus Group PLC from 19.2% to 25%. This increased stake gives voting rights to Ryanair, and strengthens the company's takeover position.

Aer Lingus Group PLC of Ireland is continuing with an initial public offering valued at 800 million Euros to 1 billion Euros despite fears of terrorism. The airlines carrier is partly state owned and the Irish government has plans to divest approximately 60 percent of the 85.1 percent stake it owns.

Ryanair Holdings PLC of Ireland posted a 9.5 percent increase in net profit to 306.7 million Euros ($396 million) from 280 million Euros last year. The discount airline is growing into new markets.

Eircom PLC of the United Kingdom has agreed to be acquired by Babcock & Brown Proprietary Ltd. of Australia for 2.42 billion Euros ($3.11 billion). Share price offer is 2.20 Euros ($2.83). The investment bank plans to upgrade the telecommunications operator.

Anglo Irish Bank PLC of Ireland posted a soaring 34 percent increase in first half net profit to 289 million Euros ($368.5 million) from 215 million Euros last year. Revenue increases were due to growth in all areas of banking business.

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