HomeBussinessAer Lingus reports loss in first three months of 2024

Aer Lingus reports loss in first three months of 2024

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Aer Lingus chief executive Lynne Embleton. Photo: Naoise Culhane

Aer Lingus has reported an operating loss of €82m in the first three months of 2024 in what the airline described as typically the “weakest” quarter of the year.

The airline pointed to an increase in revenue in the period, while overall capacity also grew by 4pc. However, the operating loss remained in line with the corresponding period last year as a result of higher costs in 2024.

Aer Lingus attributed the increased capacity onboard to an early Easter, as well as a rise in premium leisure traffic. Capacity on North American routes rose by 2pc, with Europe up 7pc.

The key summer season has now commenced, with Aer Lingus operating its largest North American network to date.

“Our Q1 2024 financial results were in line with Q1 2023 in what is typically the weakest quarter of the year, chief executive Lynne Embleton said.

She added that it is “critical” that economic growth is not limited by the ongoing 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,” she said.

There is a currently a 32 million passenger cap at Dublin Airport each year which is imposed by planning conditions.

Aer Lingus’ parent company IAG reported a rise in revenue and operating profit in the first quarter of the year following strong demand.

IAG’s operating profit before exceptional items was €68m in the period, a €9m increase from the same period last year.

Total revenue was €6.43bn, up from €5.9bn a year earlier.

The airlines group recorded a 7pc growth in passenger capacity compared to the same time last year.

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