Aer Lingus revenues fly higher but profits dip
Aer Lingus has reported an operating profit - before exceptional items - of €276m for 2019, a fall of over 11% on 2018.
Revenues at the airline, which is owned by IAG, rose by 5.8% to €2.125 billion.
The airline's capacity increased during the year by 4.2% on the back of a new route connecting Dublin and Minneapolis and increases in capacity to San Francisco, Seattle and Philadelphia.
Aer Lingus said its passenger unit revenues were up, with strong long haul performance and positive retail performance, despite challenging European market conditions.
But the airline's non-fuel unit costs also rose, mainly due to increased maintenance and handling costs as well as pay inflation increases.
These increases were partially offset by continued cost saving initiatives and efficient growth, it added.
Aer Lingus said its fuel unit costs were up compared to last year, reflecting higher market fuel prices, with favourable hedge positions having unwound during the year.
Its fuel, oil costs and emissions charges rose by over 20% during the year.