Business Irish

Saturday 10 December 2016

Aer Lingus posts first quarter loss of €48m

Published 29/04/2015 | 07:30

An Aer Lingus plane over Heathrow, which is a British Airways hub
An Aer Lingus plane over Heathrow, which is a British Airways hub

Aer Lingus has posted loss of over €48m for the first three months of 2015, almost the exact same result it posted for the same period last year.

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Aer Lingus also said it was "hopeful" that talks between its suitor British Airways-owner IAG and the Irish government, one of its biggest shareholders, will conclude in the short term, its executive counsel said.

Although revenue was up from €259m to €280m, driven mainly by strong growth in the airline’s long-haul division, it was not enough to stop the airline booking a €48.4m loss. This compares to a loss of €48.5m in corresponding period in 2014.

Long haul revenue was €82.5m, up from €59.1m in Q1 2014, however short haul takings were down slightly, from €138.8m in the first quarter of last year to €132.2m.

The airline added that Higher operating costs of €328.4m compared to €307.9m the same period last year “reflect the impact of increased fixed costs in the off-peak season”.

Similar to many carriers, the first quarter of the year is typically loss-making for Aer lingus, when capacity is curtailed and fewer people travel.

(additional reporting Reuters)

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