AER Lingus saw a double-digit drop in revenue last year after the Irish airline felt the bite of the global recession.
The Dublin based company saw revenue for the year ending 31 December fall by 11 per cent to €1.2bn (£1bn).
Aer Lingus also posted an operating loss of €93m during the first half of the year, which the airline attributes to the establishment of a new Gatwick operating base, and a high cost base.
Chief executive Christoph Mueller said that 2009 was a difficult year for Aer Lingus, which face recession in each of its major markets.
The airline is implementing a €97m (£86m) cost cutting programme it hopes will bring the business back on track within the next two years.