29-Feb-2012 1:37 PM

Aer Lingus operating loss widens in 4Q2011, maintains profits in FY2011

Aer Lingus revenue up 7% – financial highlights for 12 months ended 31-Dec-2011:

  • Three months ended 31-Dec-2011:
    • Revenue: EUR283.4 million, +6.6% year-on-year;
      • Retail: EUR37.2 million, +7.8%;
    • Operating costs: EUR301.0 million, +10.0%;
      • Fuel: EUR75.4 million, +32.0%;
      • Labour: EUR64.6 million, -2.7%;
    • Operating profit (loss) before exceptional items: (EUR17.6 million), compared to a loss of EUR7.7 million in p-c-p;
    • Profit (loss) after tax: (EUR300,000), compared to a loss of EUR15.2 million in p-c-p;
    • Passenger numbers: 2.2 million, +7.35;
    • Passenger load factor: 74.0%, +1.2 ppt;
    • Average fare: EUR106.17, -1.1%;
  • 12 months ended 31-Dec-2011:
    • Revenue: EUR1288 million, +6.0%;
      • Retail: EUR168.7 million, +2.2%;
    • Operating costs: EUR1239 million, +6.5%;
      • Fuel: EUR288.7 million, +8.5%;
      • Labour: EUR260.5 million, -1.3%;
    • Operating profit before exceptional items: EUR49.1 million, -6.4%;
    • Profit after tax: EUR71.2 million, +65.7%;
    • Passenger numbers: 9.5 million, +1.8%;
    • Passenger load factor: 75.6%, -0.5 ppt;
    • Average fare: EUR112.27, +4.8%;
    • Total assets: EUR1827 million, +0.8%;
    • Cash and cash equivalents: EUR264.5 million, -13.6%;
    • Total liabilities: EUR990.8 million, -2.0%. [more – original PR]

Aer Lingus: “Aer Lingus is likely to be exposed to higher non-controllable costs in 2012. In particular, fuel prices are expected to remain at their current levels for the foreseeable term. While the Group continues to put in place hedging protection, the 2012 fuel bill is likely to be significantly higher than in 2011 as the cost of protection adjusts to revised market expectations about the future trajectory of fuel prices. Our expectation for 2012 is that the Group will remain significantly profitable albeit below 2011 levels.” Source: Company statement, 28-Feb-2012.

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