Aer Lingus 1H2009 revenue down 12.2%

Aer Lingus revenue down 12.2% - financial highlights for the six months ended 30-Jun-2009:

• Revenue: EUR555.0 million, -12.2% year-on-year;
  • Ancillary: EUR84.0 million, +20.5%;
• Operating costs: EUR648.0 million, -1.1%;
  • Fuel: EUR189.6 million, +10.0%;
  • Labour: EUR152.1 million, -9.1%;
• Operating profit (loss): (EUR93.0 million), compared to a loss of EUR23.4 million in the previous corresponding period;
• Profit (loss) after tax: (EUR73.9 million), compared to a loss of EUR21.6 million in the previous corresponding period;
• Passenger numbers: 4.9 million, +1.7%;
  • Short-haul: 4.4 million, +3.6%;
  • Long-haul: 528,000, -11.6%;
• Passenger load factor: 72.6%, +2.4 ppts;
  • Short-haul: 74.1%, +1.9 ppt;
  • Long-haul: 70.2%, +2.5 ppts;
• Average fare yield: EUR91.4, -17.1%;
• Average fare:
  • Short-haul: EUR73.61, -13.1%;
  • Long-haul: EUR239.92, -18.4%;
• Ancillary revenue per pax: EUR16.99, +18.4%;
• Revenue per RPK:
  • Short-haul: EUR 6.94 cents, -15.6%;
  • Long-haul: EUR 4.37 cents;
• Cost per pax: EUR117.48, -4.4%;
• Cost per pax ex fuel: EUR79.12, -9.5%;
• Cost per ASK: EUR 5.57 cents, +3.7%;
• Cost per ASK ex fuel: EUR 3.75 cents, -1.8%. [more]

Aer Lingus: "Trading conditions continue to be very challenging across the airline industry. There has been a structural change in fares and in demand for our long haul business class product in particular. In addition, Aer Lingus expects that the continuation of the current market trends in Ireland and its other key markets will lead to further sustained and significant fare pressure. This dynamic and very challenging environment contributes to a highly uncertain outlook. While traffic volumes have stabilised, average fare yields continue to be significantly down year on year. Forward visibility on revenue expectations remains poor. Therefore, ongoing significant cost reduction remains critical to manage through the difficult market environment and return the Aer Lingus business to profitability," Company statement. Source: Aer Lingus, 27-Aug-2009.