Long-haul drives strong Q3 result at Aer Lingus

This story is sourced from Pro
See more Pro news »

Strong performance in its high-yield long-haul operation has continued to drive revenue growth at Aer Lingus as turnover for the first nine months of the year hit €1.1 billion ($1.4 billion).

For the period, the Irish flag carrier saw revenue in its long-haul operation grow by 18.9% year-on-year to €261 million, with the short-haul business also up 4.7% to €645 million against the same period a year earlier. Revenue per long-haul seat increased by 14.2%, it says.

For the quarter to 30 September, long-haul revenue stood at €117 million and short-haul at €276 million.

The carrier remains in the black on an operating basis year-to-date, with operating profit at €86.5 million for the nine-month period. However, with fuel costs rising by 27.9% against the same period a year earlier, third quarter operating profit fell by 2.9% to €90.9 million.

Year-to-date exceptional items amounted to €24.7 million, with the majority driven by redundancies and restructuring costs. Another €6.6 million was generated by legal fees relating to the takeover bid from low-cost rival Ryanair.

EBITDAR for the nine-month period stood at €178 million - up 11.5% on the same period last year - while for the third quarter it was €121 million.