Aer Lingus reported an operating profit of €225m for the full year 2023, representing a substantial increase of €168m compared to the previous year, driven by robust demand for leisure travel across short and long-haul routes.
The airline served 10.7m passengers in 2023, expanded its North American network, and enhanced European route offerings from Ireland, though business travel remained below pre-pandemic levels but displayed signs of recovery in early 2024, with profitability still below 2019 levels due to elevated operational costs. Load factor was 80.6pc.
Passenger revenue was €2,209m indicating an average fare of €206.44. This compares with €1,665m and an average fare of €187 in 2022.
In line with its sustainability initiatives, Aer Lingus received two Airbus 320 neo aircraft in 2023 to reduce emissions on its short-haul routes, procured Sustainable Aviation Fuel (SAF) for the first time at London Heathrow, aiming to achieve a 10pc SAF usage by 2030, and allocated €306m for fleet investments, customer experience enhancements, and operational improvements in the same year, with 900 new employees.
In 2023, the IAG took delivery of 34 aircraft: ten for British Airways, 14 for Iberia, six for Vueling, two for Aer Lingus and two for LEVEL.
Aer Lingus’s CEO, Lynne Embleton said, “These results put Aer Lingus on the right trajectory for the future. We have a compelling growth strategy for Aer Lingus that will be good for the company, our employees, our customers and for Ireland. However, achieving it is dependent on having the right cost base and productivity levels and not being constrained by the unnecessary passenger cap issue. These challenges will need to be resolved by a collaborative and sensible approach by all stakeholders that delivers the right outcomes”.
