Long-haul boosts Aer Lingus

Aer Lingus posted first-quarter results ahead of last year, boosted by a strong long-haul performance.

During the first quarter - traditionally a loss-making period for the airline - operating losses came in at €36.1 million, a 38 per cent improvement on the first quarter of 2011, which was adversely affected by industrial action.

Yield per passenger was up 8.4 per cent, while passenger numbers increased by 6.6 per cent.

Its long-haul flights saw a 12 per cent increase in passenger volumes, while its yield rose 11.2 per cent compared with the previous year.

The airline said it remains "financially strong", with gross cash of just over €1 billion at the end of March 2012.

Aer Lingus said that operating profit for 2012 "should match that achieved in 2011", though it noted that certain short haul routes were weaker than expected. The business also continues to be subject to inflationary costs such as oil.

The airline "remains focused on Aer Lingus' cost base", it said in this morning's interim management statement.

Earlier this week it emerged that Middle Eastern airline Etihad had built up a 3 per cent stake in Aer Lingus.