Category Archives: profits

‘New beginning’ for Aer Arann

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Aer Arann has announced a 32% rise in Aer Lingus Regional passenger numbers in 2012, with total passenger growth of 16% in the past two years.

Interim chief executive Sean Brogan outlined a package of measures to grow its customer base and route network, including a restructuring of the company, a fleet renewal programme, the extension of Aer Lingus agreement and the addition of two new routes.

The airline will be taking delivery of eight new aircraft. The new aircraft, ATR 72-600s, will replace the older existing fleet of ATR72-200s and ATR42s. The first new plane will commence service this May, with the remaining aircraft expected for delivery over the next 11 months. The new fleet will be fully operational in time for the Summer 2014 programme.

The airline has extended its franchise agreement with Aer Lingus, which will see Aer Arann operate under the Aer Lingus Regional brand until the end of 2022.

“Just over two years ago, we stared closure in the face,” said Mr Brogan. “Now, we have the fundamentals in place to join Europe’s top tier of regional airlines. The completion of our restructuring programme represents a new beginning for the airline. Our extended franchise agreement with Aer Lingus to 2022 gives us a firm foundation for growth, and the fleet renewal programme allows us to enhance the passenger offering further.”

“We have come a long way in a short time, but much remains to be done. We will only continue to push forward positively if we maximise the opportunities that have been secured.”

Aer Lingus operating profits up 40.7%

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Aer Lingus have announced an operating profit for 2012 of €69.1 million, up 40.7% from €49.1 million in 2011. The operating margin was also strong, up to 5.0% for 2012 compared to 3.8% in the previous year.

During 2012 the average yield per passenger increased by 7% to €120.15. Long haul yields remained particularly strong, increasing by 9.6% while short haul yields were up 3.8%.

There was also good news in terms of revenue for the year which at €1,393.3 million, represented an increase of 8.2%, while cash on the balance sheet grew to €908.5million and debt reduced by 7.9% to €531.6million.

2012 was a record year in terms of passenger numbers. With a total of 10.8 million passengers flown, including Aer Lingus Regional and the Madrid – Washington codeshare route, this is the highest number of passengers that Aer Lingus have ever carried in a single year.

Based on the positive performance the Aer Lingus board is proposing to pay an increased dividend of 4 cent per share for 2012.

Ryanair reports 503 M Euro Profit

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Ryanair has reported record profit of 503 M Euro , up 25% on last year and evenue rose by 19% to 4.3bn euros. Breaking that down, traffic increased by 5% and average revenue per passenger went up sharply by 16%, which helped offset the 30% rise in fuel costs.

“Recession, austerity, currency concerns and lower fares at new and growing bases in Hungary, Poland, provincial UK and Spain will make it difficult to repeat this year’s record results,” Ryanair said in a statement.

Michael O’Leary said this morning that his airline could benefit in some respects from the gloomy economic outlook.”People don’t stop going on holiday. They just switch to lower cost carriers,” he said.

However, it warned profits in the current financial year could be lower.It forecast annual profits of between 400m euros and 440m euros for the year to the end of March 2013.

http://www.bbc.co.uk/news/business-18141549