Monday 20 August 2018

Profit at Aer Lingus reaches €269m in 2017

Aer Lingus made a profit of €269m last year, up €36m in 2016.
Aer Lingus made a profit of €269m last year, up €36m in 2016.
Ellie Donnelly

Ellie Donnelly

Aer Lingus made a profit of €269m last year, up €36m in 2016.

The performance was driven by an increase in passenger revenues and increased capacity, as the airline introduced an additional Airbus A330.

Aer Lingus’ adjusted operating margin increased 1.3 points to 16.2pc, with the airline achieving "significant" cost savings through efficient growth with higher productivity, and from cost initiatives.

Overall IAG, which owns a number of airlines including Aer Lingus and British Airways, saw its operating profit after tax increase 3.5pc year-on-year to €2bn, according to its financial results released today.

Total revenue from passengers at IAG was €20bn, while the groups adjusted earnings per share increased 14pc year-on-year to 102.8.

"We’re reporting a very good full year performance with an operating profit of €3bn before exceptional items, up 18.9pc compared to last year," Willie Walsh, IAG chief executive officer, said.

"All our airlines performed extremely well with their best-ever individual financial results, strong operational performances and commitment to customer service."

As part of the results announcement, the group also announced its intention to undertake a share buyback of €500m during 2018.

The group said that its board was proposing a final dividend to shareholders of 14.5 euro cents per share, bringing its full year dividend to 27.0 euro cents per share, subject to shareholder approval.

Looking forwards the group said that at current fuel prices and exchange rates, it expects its operating profit for 2018 to show an increase year-on-year. Both passenger unit revenue and non-fuel unit costs are expected to improve at constant currency.

Online Editors

Business Newsletter

Read the leading stories from the world of Business.

Also in Business