Aer Lingus has reported an operating loss of €82 million for the first quarter of 2024, mirroring the performance in the first quarter of 2023. This period typically marks the airline’s weakest quarter, following a profitable full year in 2023 with an operating profit of €225 million.
Despite an increase in revenue and a 4% growth in overall capacity compared to Q1 2023, the operating loss remained unchanged due to higher expenses. The rise in capacity was driven by an early Easter and increased premium leisure traffic, with North American routes seeing a 2% increase and European routes growing by 7%.
Moving into the summer season of 2024, Aer Lingus has launched its largest North American network ever, including new routes from Dublin to Minneapolis St. Paul and Denver, together with a broadened European recreational network.
Aer Lingus is committed to enhancing customer experience, evidenced by initiatives such as allowing AerClub flight redemptions on aerlingus.com, introducing a new menu for long-haul flights, expanding in-flight entertainment options, refurbishing aircraft interiors, upgrading onboard Wi-Fi, and opening a new lounge in Terminal 3 at Chicago O’Hare Airport.
Additionally, a partnership between IAG and Twelve, a California-based company, will benefit Aer Lingus by ensuring the production of e-SAF (sustainable aviation fuel) for airlines within the group, aligning with sustainability goals.
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.”
