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Dublin: 9 °C Friday 24 October, 2014

Aer Lingus profits increase by 40.7 per cent in 2012

This is the third consecutive year that Aer Lingus has reported profitability.

Image: James Horan/Photocall Ireland

IRISH AIRLINE AER Lingus has seen its profits increase by 40.7 per cent in 2012.

The company said that its preliminary results show it achieved an operating profit of €69.1 million for the year ended 31 December 2012, an increase of 40.7 per cent on its 2011 result of €49.1 million.

This is the company’s third consecutive year of profitability.

Last year was also a record year for Aer Lingus on the passenger front, with 10.8 million passengers flying with the airline. This was the highest such number ever flown in a single year by Aer Lingus and is itself an increase of 3.8 per cent on 2011.

Revenue

Revenue for the year stood at €1,393.3 million, represented an increase of 8.2 per cent, while gross cash increased to €908.5million and debt debt reduced by 7.9 per cent to €531.6million.

The number of forward passengers booked on Aer Lingus services at 31 December was ahead of the figure booked at the same time in 2011 – and the the single highest day of revenue booked in the history of Aer Lingus was recorded in January 2013.

Because of this positive performance, the Aer Lingus board is now proposing to pay an increased dividend of 4 cent per share for 2012.

Commenting on the 2012 performance Christoph Mueller, Aer Lingus’ CEO said:

2012 was an excellent year for Aer Lingus. In addition to the strong financial performance, improved processes and service delivery were reflected in a record on-time arrival performance of 88 per cent and a high customer satisfaction level.
We believe in our new business model. Our positioning at the centre of the market is allowing us take market share from the legacy carriers as well as the pure low cost and regional carriers.

Mueller said that in 2013 Aer Lingus will grow its North Atlantic services by 15 per cent and deploy four short haul aircraft in a co-operation with Virgin Atlantic out of London Heathrow.

It will also fly one Airbus A330 aircraft during the next three winter seasons on behalf of a major European tour operator, as well as continuing to invest in “state of the art IT infrastructure” to improve its customer service and convenience and drive down overall costs at the same time”

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