Aer Lingus operating profit up 19% in third quarter

Aer Lingus operating profit up 19% in third quarter

Aer Lingus has had its most profitable quarter since the financial crisis, reporting an operating profit of just under €113m euro for the three months to the end of September, up 19% on the same time last year.

In results for the period July 1 to September 30 announced today, the airline recorded an operating profit of €112.9m, up from €94.9m in 2013.

Total revenue for the third quarter was up 13.9% year-on-year to €531.1m, the airline said.

Aer Lingus said a recovery in short haul revenue, up 5.5%, was a highlight of Q3 with passenger volumes up 2.2% and average revenue per seat up 5.2%

Long haul continued to perform strongly with fare revenues of €175.9m for the quarter, up 34% from €131.3m for Q3 2013.

“We are particularly pleased with Aer Lingus’ Q3 2014 performance," CEO Christoph Mueller said.

"Our quarterly operating result of €112.9m, representing an operating margin of 21.3%, is 19.0% above prior year and is our highest Q3 operating result since the financial crisis."

Mr Mueller said that assuming the current trading environment is maintained, management now expect that Aer Lingus’ full year 2014 operating profit, before exceptional items, will be ahead of the 2013 operating result (i.e. €61.1m).

The airline said it carried a total of over 3 million passengers during the quarter, up 4.8% compared to 2013. It additionally said that passenger numbers were up 2.3% in October when compared to the same month last year.

More on this topic

SIPTU  says that Aer Lingus proposal to safeguard staff 'does not go far enough'SIPTU says that Aer Lingus proposal to safeguard staff 'does not go far enough'

Donohoe: Aer Lingus talks to end in next few weeksDonohoe: Aer Lingus talks to end in next few weeks

Donohoe: Connectivity is key to IAG's bid for Aer LingusDonohoe: Connectivity is key to IAG's bid for Aer Lingus

Cabinet to hear new IAG Aer Lingus buy-out proposal within two weeksCabinet to hear new IAG Aer Lingus buy-out proposal within two weeks

More in this Section

Serious Fraud Office closes Libor rigging investigationSerious Fraud Office closes Libor rigging investigation

Johnson insists EU free trade agreement can be struck amid no-deal Brexit fearsJohnson insists EU free trade agreement can be struck amid no-deal Brexit fears

IDA Ireland: Era of optimism with growth evident in all sectorsIDA Ireland: Era of optimism with growth evident in all sectors

Renault warning of slowing sales haunts rest of European car industryRenault warning of slowing sales haunts rest of European car industry


Lifestyle

Ovarian cancer has been dubbed ‘the silent killer’. Christina Henry tells Rowena Walsh why she is one of the lucky onesAgeing with attitude: Life after ovarian cancer

As almost a father of two, Donal Skehan has realised that in order to survive with young children, quick and easy meals are key, writes Ciara McDonnell.Donal Skehan's newest recipes are quick and easy

Jamie Oliver is on a mission to get everyone eating more vegetables with the release of his new book, Veg.A selection of recipes from Jamie Oliver's new book Veg

More From The Irish Examiner