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Aer Lingus announces €45m profit since becoming part of IAG

Aer Lingus has made an operating profit of €45m between August 18th and September 30th ...
Newstalk
Newstalk

08.14 30 Oct 2015


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Aer Lingus announces €45m prof...

Aer Lingus announces €45m profit since becoming part of IAG

Newstalk
Newstalk

08.14 30 Oct 2015


Share this article


Aer Lingus has made an operating profit of €45m between August 18th and September 30th according to results filed this morning.

This period covers Aer Lingus' completion of the process of joining International Airlines Group (IAG).

The parent company's operating profit for the year to the end of September was €1.25bn - it reports that its revenue rose by 15.2% during its third quarter.

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Like other airlines, the group has benefited from declining energy prices, as fuel costs fell by 8.6% between June and September - although IAG's other costs did rise by 5.6%.

The group's cash reserves at the end of the period stood at €6.78bn.

IAG says that, based on current fuel prices and exchange rates, it expects to end 2015 with an operating profit of between €2.25bn and €2.3bn - these figures exclude profits generated by the Irish airline.

The group's CEO Willie Walsh commented on the Irish airline's performance:

"Aer Lingus made an operating profit of €45m since it joined IAG on August 18th. While the airline’s profitability is seasonal, Aer Lingus is cost-effective and provides a natural gateway to build our business between Europe and North America. It’s a great asset for the Group."

"We’re reporting strong quarter results with a positive contribution from all of our airlines," he added.


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