Aer Lingus profits fly higher than expected

Aer Lingus, has posted a strong increase in operating profit for the year ending December 2003.

The carrier said it will push ahead with cost-cutting in an ongoing effort to drive down fares and compete in a tough market.

Operating profit rose by 30% to €83m, €5m ahead of its own target, while profit after exceptional items rose 96% to €69.2m.

Turnover on continuing operations fell by 7.3% to €888.3m, reflecting the group's drive to cut fares.

Throughout the year, Aer Lingus increased passenger numbers by over 6% to 6.6 million.

Its load factor - the number of passengers carried - rose to 81%.

Aer Lingus also saw a bumper year for transatlantic traffic with passenger numbers up just over 19% to 1.1 million people.

The airline has said it will add an extra 13 routes to its schedule.

Aer Lingus currently serves about 35 destinations in Ireland, Britain, the US, and continental Europe.

Its fleet includes 13 Boeing 737s, eight British Aerospace BAe146-300s, and eight Airbus A330s.