Since then, Aer Lingus has scaled back its long-haul and some short-haul services and postponed aircraft orders as it seeks to rein in costs and save as much as €97m a year. It has also reduced the number of Aer Lingus aircraft at its Gatwick base. Aer Lingus management, including chief executive Christoph Mueller, will this morning attempt to persuade investors that a new strategy, backed by the significant cost-cutting measures that include the elimination of about 670 jobs, will provide the airline with a viable future. Among those in attendance today will be two senior Ryanair representatives. The low-cost-carrier owns a nearly 30pc stake in Aer Lingus, while its one-year moratorium on making a fresh bid for Aer Lingus expires at the end of this week. However, Ryanair chief executive Michael O'Leary has already said another bid for Aer Lingus is unlikely. Aer Lingus yesterday appointed two new independent non-executive directors to its board.