OA260 From Ireland, joined Nov 2006, 24891 posts, RR: 60 Posted (3 months 1 week 6 days 13 hours ago) and read 1405 times:
Good news for Aer Lingus in a European market where not too many airlines are making any money! Seems that they have got the right balance and their business model is working for them.
Aer Lingus has reported an 8.2% increase in revenues for 2012, while operating profits before exceptional items jumped 40.7% to €69.1m.
The airline said it carried a total of 10.8 million passengers during the year - the highest number flown in a single year by the group.
EIRules From Ireland, joined Aug 2007, 641 posts, RR: 10 Reply 1, posted (3 months 1 week 6 days 12 hours ago) and read 1304 times:
Excellent news at a time when it was really needed! I can't see this suddenly stopping the FR bid but at least the nonsense argument that EI are loss making and need FR to survive may go away. A few more well chosen alliances like that with EY and soon to come AC and they are going in the right direction
Next Flights: EI DUB-LHR A320, BA LHR-SFO B744, UA SFO-LAS A320, BA LAS-LHR B744, EI LHR-DUB A320
VFRonTop From Ireland, joined Oct 2012, 17 posts, RR: 0 Reply 4, posted (3 months 1 week 6 days 9 hours ago) and read 921 times:
Quoting ual777uk (Reply 2): I am sure that MOL would spin it in a way to suggest that they could have done a whole lot beeter if owned by FR. yawn.
Quoting OA260 (Reply 3): Indeed one can always spin a good news story into a negative just like in politics
Would be hard to turn a profit and carry 10.8m passengers when half of your network, aircraft and crew are silver plattered to an ailing regional competitor.
I'd still be interested to hear MOL's opinion on the results though
anfromme From Ireland, joined Feb 2012, 283 posts, RR: 10 Reply 5, posted (3 months 1 week 6 days 7 hours ago) and read 714 times:
Couldn't care less to hear MOL's take on this, really. Probably some variation of "They could have done even better as part of FR"/"This is not sustainable and they need FR to work long-term." and similar horse manure.
Note should be taken of Aer Lingus' share price - it's now at €1.29. That is just €0.01 short of Ryanair's offer of 1.30 per share. Never mind the EU commission (which I think is still going to veto the takeover anyway), I can't see too many shareholders jumping on that offer for a measly cent per share as things stand. The results and the current share price also validate a point Christoph Mueller made when Ryanair first published their offer - that point being that the offer seriously undervalues Aer Lingus.
Overall, I think this is another serious nail in the coffin of FR's takeover ambitions - EI posting a 40% increase in profit, 7% increase in passengers (highest number of passengers ever), 8.2% increase in revenue, third profitable year in a row, and shares at just €0.01 below FR's offer price...
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