Aer Lingus today posted a net loss of €130.1 million in 2009, compared with €109.9 million in 2008.
In its preliminary results for 2009, the airline reported an operating loss, before net exceptional items, of €81 million - compared to €20 million in 2008 - with second half operating profit before net exceptional items of €12 million.
Pre-tax losses at Aer Lingus for 2009 were €154.8 million, a 26 per cent increases on losses in 2008. Total revenue declined 11 per cent to €1,205.7 million, with what Aer Lingus said was a "strong performance" in ancillary revenues offset by reduced passenger fare and cargo revenues.
Total passengers carried by Aer Lingus rose 3.8 per cent to 10.4 million compared to 10 million in 2008, but the average fare for the year declined by 16.8 per cent on 2008, with a 12 per cent fall on average short haul fare and a 15.9 per cent fall on average long haul fare.
Fuel costs at the airline fell 17.3 per cent to €331.7 million, while non-fuel operating costs dropped 1.9 per cent to €955 million.
The company said trading conditions remain "extremely challenging" and that it remains focused on actively managing yields and capacity to enhance its trading performance.
Commenting on the results, Christoph Mueller, Aer Lingus CEO, said: "2009 was a very difficult year for the Group with total revenues declining by 11 per cent in the face of recession in each of our major markets. The increase in the operating loss, before exceptional items, to €81.0 million reflects the tough markets faced by the Group."
He added that implementation of the company's controversial cost-cutting programme "remains vital to the re-align the cost base of the Group".
At 2.45pm today, Aer Lingus stock was up 3.889 at 0.748 on the Iseq.