LONDON (Alliance News) - Aer Lingus Group PLC Wednesday reported a widened pretax loss in the first half of 2015, although revenue grew and it said it is confident that its takeover by International Consolidated Airlines Group will strengthen the airline.
The Irish airline, which is being bought by IAG for EUR1.4 billion, said its pretax loss in the six months to June 30 widened to EUR14.8 million from EUR14.1 million the year before, although revenue grew 7.4% to EUR749.0 million from EUR697.2 million.
Aer Lingus said it experienced strong growth in passenger fare, retail and cargo revenue, and said that revenue was helped by the appreciation of the US dollar and UK sterling. However, it booked more costs associated with staff, fuel, depreciation, distribution, ground operations, airport and en-route charges, and aircraft operating lease costs.
"Both short and long haul capacity are set to expand into the peak season, and we are very satisfied with forward yield and load factor profiles at this time," Chief Executive Stephen Kavanagh said in a statement.
Shares in Aer Lingus were trading flat at EUR2.49 Wednesday morning.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
Copyright 2015 Alliance News Limited. All Rights Reserved.
International Airlines (IAG)