Aer Lingus Q3 Operating Profit up 19% to €112.9 million

Aer Lingus has reported its results for the third quarter (3Q14) of the company’s 2014 financial year (1 July to 30 September 2014) in which it had an operating profit of €112.9 million, up from €94.9 million in 2013.

The company noted that this was its strongest third quarter result since the financial crisis and was built on total 3Q14 revenue of €531.1 million, up 13.9% year-on-year driven by a strong short-haul performance and the continued success of transatlantic capacity expansion.

The recovery in short-haul revenue, up 5.5%, was a 3Q14 highlight with passenger volumes up 2.2% and average revenue per seat up 5.2%. Long-haul also performed strongly with 3Q14 fare revenues of €175.9 million, up 34% from €131.3 million for 3Q13.

During 3Q14, Aer Lingus carried more than 3 million passengers, up 4.8% compared with 3Q13. Long-haul routes recorded a 23.8% increase to 427,000 passengers while short-haul passenger numbers were up 2.2% to 2.625 million.

Christoph Mueller, Aer Lingus’s CEO commented, “We are particularly pleased with Aer Lingus’s third quarter of 2014 performance. Our quarterly operating result of €112.9 million, representing an operating margin of 21.3%, is 19.0% above the prior year.

“Aer Lingus’s short-haul traded strongly in a tough environment, with revenue growth increasing by 5.5% in the quarter. This is a reflection of the inherent strength of our business model and the success of management actions taken to address the effects of industrial disruption in 2Q14.

“In long-haul, we carried nearly a quarter more passengers compared to last year while increasing our load factor and revenue per seat. We target further profitable growth of our long-haul business into 2015. Our new Dublin to Washington service will be launched in May 2015 and services on existing transatlantic routes will be increased. This will provide even more connectivity for our passengers and strengthen Aer Lingus’s and Dublin’s position in traffic between Europe and North America.

“Assuming the current trading environment is maintained, management now expect that Aer Lingus’s full-year 2014 operating profit, before exceptional items, will be ahead of the 2013 operating result (i.e. €61.1 million),” Mueller concluded.

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