Aer Lingus Q1 loss in line with last year

LONDON, April 29 (Reuters) - Irish airline Aer Lingus (Other OTC: AELGF - news) , target of a takeover approach from British Airways-owner IAG, reported a first quarter loss broadly in line with last year, and said its forward trends were positive.

The Aer Lingus board repeated its support for IAG's approach but provided no further update on the takeover on Wednesday. It is currently stalled pending a decision by the Irish state on whether to sell its 25 percent stake in Aer Lingus, a condition of the deal.

For the three months ended March 31 when it traditionally makes a seasonal loss as less customers fly, Aer Lingus reported an underlying operating loss of 48.4 million euros, in line with the 48.5 million euros loss it posted in the same period last year. (Reporting by Sarah Young; Editing by Li-mei Hoang)