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Recent trading performance

2013 financial and operating highlights

  • Total revenue up 2.3% year on year with average fare revenue per seat up 2.0%
  • Effective network capacity management resulted in load factor climbing 0.7 points to 78.4% with increases achieved on both short and long haul services
  • Very strong long haul performance with revenue up 11.1%, passengers numbers up 12.2% and load factor up 0.6 points on increased capacity of 11.6%
  • Short haul revenue down 3.3% due to extremely good weather in Ireland and Northern Europe in the peak Summer period and increasingly competitive pricing environment in Q3 and Q4 2013. Capacity managed tightly to protect margins.
  • Operating profit, before net exceptional items, of €61.1 million is in line with stated guidance.
  • Continued balance sheet strength: gross cash of €897.4 million at year end and an 11.4% increase in net cash to €419.8 million.
  • Proposed dividend of four cent per share for 2013 is in line with prior year. We expect to maintain dividends at this annual level for the foreseeable future.

2013 strategic highlights

  • Profitable expansion of our long haul operations through the re-deployment of an additional A330 aircraft allowing us to increase frequency on Dublin to Boston and Chicago services. We more than sold this additional capacity.
  • Successful launch of contract flying business: “Little Red” domestic UK services on behalf of Virgin Atlantic Airways and long haul service from Scandinavia to the Caribbean for the tour operator Novair.
  • New and expanded codeshare agreements with United Airlines and Air Canada.
  • New retail initiatives such as pre-order, enhanced and refreshed meal offerings on short haul and long haul services, wi-fi on our transatlantic services and new checked baggage options.
  • Planned long haul expansion in 2014 with new services to Toronto and San Francisco and increased frequency on services from Shannon to Boston and New York. Seat capacity up by 20% facilitated by the damp lease of three Boeing 757 aircraft from ASL Aviation Group.

My Aer Lingus/Gold

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