10-Nov-2009 12:52 PM

Aer Lingus 3Q2009 revenue down 9.7%

Aer Lingus Group revenue down 9.7% - financial highlights for the three months ended 30-Sep-2009:

  • Total revenue: n/a, -9.7% year-on-year;
  • Passenger numbers: 3.1 million, +7.0%;
    • Short-haul: +10.0%;
    • Long-haul: -13.2%;
  • Load factor: 80.4%, +1.3 ppt;
    • Short-haul: 82.0%, +1.4 ppt;
    • Long-haul: 77.8%, +0.6 ppt;
  • Average airfare: -17.6%;
    • Short-haul: -12.3%;
    • Long-haul: -17.0%;
  • Ancillary revenue per passenger: +8.5%. [more]

Aer Lingus: “Yields continue to reflect the poor market conditions and weak economic environment.  Short-haul average fare fell by 12.3% year on year for the same period.  This decline was partly offset by an increase of 8.5% in ancillary revenue per passenger. Long haul average fares fell by 17.0% year on year. Overall average fare for the quarter declined 17.6% on the same period last year,” Company statement. Source: Aer Lingus, 09-Nov-2009.

Aer Lingus: “The business continues to experience challenging conditions. However the actions taken to remove capacity on underperforming parts of the network has had a positive impact on stabilising load factors and yields while reducing operating costs. While the fall in yield year on year continues, the pace of decline in average fares does not appear to be accelerating currently. Cost increases in the form of higher fuel prices, airport and navigation charges together with further expected GDP declines and unemployment increases in our major markets, will mean that we must continue to reduce any costs within our control so that we can cope with continued falling fares, compete and maintain balance sheet strength,” Company statement. Source: Aer Lingus, 009-Nov-2009.

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