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Recent trading performance

2014 financial highlights

  • Excellent operating profit performance of €72.0 million (before net exceptional items)
  • Revenue growth of 9.2%; average fare per seat up 9.4%
  • Total network passengers (including Aer Lingus Regional) surpassed 11 million for the first time in Aer Lingus history
  • Strong long haul development; 28.4% increase in long haul passenger fare revenue with average fare per seat up 7.2% and load factor up 0.6 percentage points
  • Resilient short haul performance in a highly competitive environment; average fare per seat up 2.5% on steady load factors
  • Retail revenue per passenger up 1.5% to €19.14
  • Cargo revenue up 6.2%
  • Free cash flow up 92.1% to €146.6 million; continued balance sheet strength with 29.9% increase in net cash to €545.3 million
  • 2014 loss before tax reflects net exceptional items of €180.3 million, (primarily related to the IASS pension solution) and staff stabilisation payments (included within staff costs) of €9.3 million

2014 strategic highlights

  • Successful transatlantic expansion: 23.8% additional capacity deployed with improved yields and load factor. Further long haul expansion (representing an additional 13% seat capacity) planned for Summer 2015
  • Continued success of Aer Lingus franchise model; Regional passengers up 18.0% on 2013
  • Move from Terminal 1 to Terminal 2 in London Heathrow resulting in a major improvement in our passenger experience
  • Launch of a new long haul business class offering including introduction of fully horizontal 'lie flat' seats and Dublin arrivals lounge
  • Delivery orders confirmed for nine A350 aircraft between 2018-2020
  • Resolution of legacy pension funding issues in late 2014

My Aer Lingus/Gold

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