Aer Lingus Profits Soar

Business & Finance - Industry

Thursday, 03 November 2011 15:16

Written by Barry McNamara

Aer Lingus Group plc today issued an un-audited interim management statement for the period from 1 July 2011 to 30 September 2011, representing the third quarter of the Group’s financial year.

The airline’s operating profit of €94.6 million for the third quarter of 2011 was up 19.4% on the same period on 2011, while passenger numbers increased by 2.1%.  Retail revenue per passenger also increased by 6.1% in the third quarter.

Christoph Mueller, Aer Lingus’ CEO said: “I am pleased to report that Aer Lingus had a strong third quarter, generating an operating profit, before exceptional items, of €94.6 million. This result is ahead of Q3 2010 and follows on from a solid Q2 2011 performance. Aer Lingus has performed positively over the key Summer months of 2011."

"These results were achieved against the backdrop of difficult trading conditions. Demand in our primary markets continues to be impacted by consumer concerns about the future and the ongoing eurozone debt crisis. We are also affected by high airport charges and are now exposed to higher fuel prices than earlier this year. Despite these challenges, we are satisfied with Aer Lingus’ operating profit for the first nine months of 2011. Based on this result, and current trading, the Group now expects to report a full year 2011 operating result, before exceptional items, at the upper end of the current range of market expectations.”