Press releaseAer Lingus reports operating loss of €82m for Q1 2024
Aer Lingus had an operating loss of €82 million for the first quarter of 2024, in line with Quarter 1 of 2023. Quarter 1 is typically the weakest quarter of the year for the airline and follows a full year 2023 operating profit of €225m. While revenue increased and overall capacity grew by 4% compared to Q1 2023, the operating loss remained in line with Q1 2023 due to higher costs. The increased capacity reflected an early Easter and more premium leisure traffic. Capacity on North American routes increased by 2% with Europe up 7%.
The airline’s summer season has now started, and Aer Lingus is operating its biggest ever North American network in Summer 2024 including the commencement of new services from Dublin to Minneapolis St. Paul and Denver and an expanded European leisure network.
Aer Lingus continues to invest in improving customer experience, including redeeming AerClub flights on aerlingus.com, a new menu on long-haul services, a wider range of in-flight entertainment options, refurbished aircraft interiors, upgraded onboard Wi-Fi and a new lounge in Terminal 3 at Chicago O’ Hare Airport. Aer Lingus will also benefit from an agreement between IAG and a California based company Twelve, to secure the production of e-SAF for airlines in the group, a key element in achieving sustainability objectives.
Lynne Embleton, CEO, Aer Lingus said, “Our Q1 2024 financial results were in line with Q1 2023 in what is typically the weakest quarter of the year. We are committed to our growth strategy for Aer Lingus that will benefit the company, our employees, our customers, and the economy. However, it is critical that we remain focused on managing our cost base and that economic growth is not constrained by the passenger cap issue at Dublin Airport. Dublin Airport is a critical piece of strategic national infrastructure, and the passenger cap issue needs to be urgently resolved – this requires both leadership from Government and action by the parties involved.”
ENDS/
--
Media contacts
Olivia Buckley
Communications Director
Tel: +353 (0)87 6298113
Nuala Buttner
Q4 Public Relations
Tel: +353 (0)85 1744275
Director
Q4 Public Relations
88 St Stephen’s Green
Dublin 2
Tel: +353 (0)1 4751444 / +353 (0)85 1744275
Email: nuala@q4pr.ie