Strategic Meetings Summit London, 26 September,
September 29 2022, Kimpton Fitzroy London
Friday 30 September 2022, JW Marriott Grosvenor
Aer Lingus has reported a rise in revenues for the first quarter of 2015 and said losses are in line with seasonal expectations.
The Irish carrier, which is the focus of a bid from IAG, saw total revenue rise 7.9 per cent to €280m.
Aer Lingus said the improved results are due to long-haul activity, demand led short haul capacity decisions and a year-on-year growth in retail, cargo and other revenue generators.
Stephen Kavanagh, Aer Lingus chief executive said: “I am pleased to report that Aer Lingus achieved revenue growth of 7.9% to €280.0 million, delivered by our demand led capacity decisions.
“Operating results were stable in the seasonally loss making first quarter, at (€48.4) million before net exceptional items.
“Of particular note was the 39.6% increase in our long-haul revenues as new products, routes and increased frequencies continue to build out our Dublin Atlantic hub,” he added.
The airline said its long haul passenger fare revenues rose by around 40 per cent to €82.5 million as long haul capacity increased by 12.6 per cent. But the airline's short haul passenger fare revenues fell by 4.7% to €132.2m with capacity on short haul routes decreasing by 7.3%.
Kavanagh said he still believes that the offer from IAG will deliver “significant benefits” for all Aer Lingus stakeholders.
He added: “We are focused on building Aer Lingus and improving our return on invested capital performance.”