Posted on: 30 July 2014 by Mark Howells
Aer Lingus has revealed figures for its three month (Q2) and six month (H1) periods ending 30 June 2014.
Whilst the airline made an operating loss of €9.9 million in its first half, it still charts a 39.6% improvement on the previous year. In fact, Aer Lingus stated that had it not faced strike action for the first six months of 2014, the first half operating result may have neared breakeven, as the cost of the strike was estimated to be around €10 million.
The operating profit of €38.7 million for the second quarter managed to deliver the best Q2 result the company’s seen in five years. Aer Lingus claim this is due to solid performance in the short haul sector as well as successful deployment of additional transatlantic capacity.
The positive figures come as a result of fare revenue per seat rising by 5.5%, with passenger volumes and load factor also marginally increasing.
Aer Lingus CEO Christoph Mueller commented on the results, “We are delighted to announce that Aer Lingus’s successful business model has delivered a 40% improved operating result and a 26% increase in free cash flow in H1 2014 despite the negative effects of lost revenue caused by the cabin crew industrial action.”
“Based on recent trading trends we once again expect that full year 2014 operating profit (before net exceptional items) will be at least in line with 2013 (i.e. €61.1 million),” he concluded.