Aer Lingus grows net profit in 2011
Feb. 28, 2012, Dublin, Ire. - Irish airline Aer Lingus has defied Ireland's economic crisis by reporting strong growth in profits for 2011.
February 28, 2012 By Carey Fredericks
The Dublin-based carrier says in a statement Tuesday its full-year net profit rose 66 per cent to C71.2 million ($95.6 million). Sales rose 6 per cent to C1.29 billion ($1.73 billion).
Aer Lingus competes with Ryanair on European short-haul routes and with several U.S. airlines on trans-Atlantic routes. Ryanair is Aer Lingus' biggest shareholder and seeks to acquire its main Irish rival, but the Irish government and EU regulators have blocked a takeover.
Aer Lingus says it carried more than 9.5 million passengers in 2011, a 1.8 per cent gain, and its average cash yield per passenger rose 4.8 per cent to C112.27 ($150.78) chiefly because it charged higher fares.