Aer Lingus has published its third-quarter performance, indicating strong results globally thanks to increased capacity.
Breaking Down Aer Lingus’ Third Quarter
Aer Lingus says its operating profit before exceptional items reached USD 207 million for the third quarter.
This represented an increase in profit for the same period one year prior. Total increases tally 41% year-on-year.
Capacity, meanwhile, across the third quarter on its short-haul network, also saw substantial increases tally 14% as the company priorities rebuild and growth.
Meanwhile, Aer Lingus’ international network also saw further growth year-on-year, with a capacity increase of 15% compared to 2022.
Looking Ahead Into 2024
North America will also see fantastic growth in 2024 with nonstop services towards more U.S. destinations as part of its commitment to the market.
As part of the expansion, the airline will begin serving critical destinations in the United States, such as Denver, Colorado and Minneapolis-St. Paul.
It is the belief that the trio of destinations will add to their existing North American presence in time for the busy summer season of 2024, where demand should spike.
Aer Lingus Performance Is Improving
Aer Lingus flags the first quarter as incredibly challenging as the company saw higher operating costs, among other struggles.
However, the airline has been able to rebound strongly now in the third quarter with the continued rise of leisure travel.
Aer Lingus notes that business travel has yet to recover fully per their data. However, it is steadily improving, not at the same rate as leisure.
Looking ahead, this quarter is being deemed hugely crucial for the long-term rebuild of the carrier. Ultimately, it allows Aer Lingus to focus more on its balance sheet, repairing this and thus being able to fund future investments.