Industry & Business

Aer Lingus makes €45m profit since joining IAG

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Aer Lingus makes €45m profit since joining IAG

October 30
09:43 2015

aer lingus iag planeAer Lingus made an operating profit of €45m between 18 August and 30 September, according to Q3 results.

This period covers the point from which the airline was acquired by International Airlines Group (IAG).

IAG’s operating profit for the year to the end of September was €1.25bn, with the group stating that revenue had risen by 15.2 percent in the third quarter.

Fuel costs fell between by 8.6 percent between June and September for IAG (which also owns British Airways and Spain’s Iberia), while non-fuel costs rose 5.6 percent.

IAG’s cash reserves at the end of September stood at €6.78bn, including €958m from the Aer Lingus acquisition.

Commenting on the latest results IAG CEO Willie Walsh said, “We’re reporting strong quarter results with a positive contribution from all of our airlines.

“Aer Lingus made an operating profit of €45m since it joined IAG on August 18. While the airline’s profitability is seasonal, Aer Lingus is cost-effective and provides a natural gateway to build our business between Europe and North America. It’s a great asset for the Group,” he added.

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