Saturday 19 October 2019

Aer Lingus boosts IAG

The number of passengers carried by Aer Lingus in September rose by 0.7pc from the same month of 2018 to nearly 1.1 million
The number of passengers carried by Aer Lingus in September rose by 0.7pc from the same month of 2018 to nearly 1.1 million

Shawn Pogatchnik

AER Lingus has increased its sales and passenger load to help parent IAG keep growing overall despite disruption at British Airways and Heathrow.

The number of passengers carried by Aer Lingus in September rose by 0.7pc from the same month of 2018 to nearly 1.1 million.

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Revenue per passenger rose by 3.5pc, while load factor - the percentage of sold seats - rose to 84.6pc from 84.3pc.

IAG-owned carriers Iberia, Level and Vueling also posted monthly gains versus September 2018 to compensate for the troubles afflicting BA, which saw its September passenger figures slump by 8.1pc to 3.85 million. Its load factor also declined to 82.8pc from 83.3pc.

IAG shares rose 3pc to 468.5p (€5.25) yesterday on recovering sentiment after the group's September 26 profits warning.

Analysts at Davy Stockbrokers said IAG needs to maintain its key fiscal 2020 targets at its Capital Markets Day on November 8 "to combat scepticism in the valuation" and to demonstrate that its current difficulties represent "a blip".

Irish Independent

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