Tuesday 21 November 2017

Aer Lingus posts first quarter loss of €48m

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.

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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