1-Sep-2011 11:08 AM
Aer Lingus reports stronger 2Q2011 results after first quarter loss. Expects better 2H
Aer Lingus revenue up 14% - financial highlights:
Three months ended 30-Jun-2011:
- Revenue: EUR351.2 million, +14.0% year-on-year;
- Ancillary: EUR45.0 million, +6.9%;
- Operating costs: EUR325.3 million, +12.5%;
- Fuel: EUR77.4 million, +0.3%;
- Labour: EUR66.6 million, -2.6%;
- Operating profit*: EUR25.9 million, +37.8%;
- Passenger numbers: 2.6 million, +8.3%;
- Passenger load factor: 74.1%, -2.6 ppts;
- Average yield per passenger: EUR113.13, +6.6%;
Six months ended 31-Jun-2011:
- Revenue: EUR569.1 million, +5.8%;
- Ancillary: EUR77.5 million, -4.0%;
- Operating costs: EUR596.9 million, +7.2%;
- Fuel: EUR129.6 million, -1.9%;
- Labour: EUR127.7 million, -5.9%;
- Operating profit* (loss): (EUR27.8 million), compared to a loss of EUR19.0 million in p-c-p;
- Net profit (loss): (EUR13.1 million), compared to a loss of EUR18.5 million in p-c-p;
- Passenger numbers: 4.4 million, -1.0%;
- Passenger load factor: 71.0%, -2.2 ppts;
- Average yield per passenger: EUR106.94, +8.4%;
- Total assets: EUR1873 million, +3.3% when compared to period ended 31-Dec-2010;
- Cash and cash equivalents: EUR263.2 million, -14.0% when compared to period ended 31-Dec-2010;
- Total liabilities: EUR1124 million, +11.2% when compared to period ended 31-Dec-2010. [more]
*Before net exceptional items
Aer Lingus: "Although economic conditions in Ireland remain challenging, we are pleased with the booking profile for the rest of the year and we are positive about our trading prospects for the remainder of 2011. We expect revenue growth in the second half to be broadly similar to that of the first six months. As a result, we are more positive about the profitability of the business in 2011 than we were at the start of the year," Christoph Mueller, CEO. Source: Aer Lingus, 31-Aug-2011.