Aer Arann carries record number of passengers

For the first months to end May 2008, Aer Arann reports that it has carried 430,000 passengers, a 3.1% increase on the same period last year. The month of May delivered strong results, with 105,677 passengers carried in one month, a 10% improvement on the same month last year, due to the success of Munster Rugby and an excellent performance on its Cork-Dublin route.

Garry Cullen, Managing Director, Aer Arann said:

“The underlying passenger results continue to be strong, against a background of tough trading conditions throughout the aviation industry. Our international routes have registered a record growth of 10% over the same period last year.

“This year we have adjusted our business model through increasing the aircraft leasing side of the business. This has opened up new revenue streams and has enabled us to spread the risk during this difficult time for the airline industry.

“Our fleet replacement and expansion programme has facilitated the leasing of spare aircraft to Finncomm (the commuter arm of Finnair) and Flybe, whilst still introducing our new fleet into our scheduled service. As a result, refining Aer Arann’s strategy and focus going forward means we can face any difficult conditions from a position of strength.

“Aer Arann’s growth strategy focuses on connecting the regions with direct flights. Extending the Aer Arann footprint into continental Europe is one of the keys to the future. Aer Arann continued to expand its network with the announcement of six new routes to Amsterdam, Faro, Malaga, Bordeaux, Brest and La Rochelle in the first quarter. Aer Arann now has 16 routes to mainland Europe.

“Despite the increase in fuel prices, Aer Arann is in relatively good shape to cope with fuel costs in excess of $130 per barrel. Whilst fuel prices are something we have no control over, our fuel hedging strategy and fuel-efficient aircraft have protected us. Our greatest advantage is that our aircraft, the ATR 72 and 42 aircraft, have the best fuel economics in the airline industry. Our ATR aircraft use 70% less fuel consumption than a jet on similar routes, and use as much fuel flying 370 kilometers (230 miles) as a Boeing 747 consumes in 10 minutes of taxiing. As a result, Aer Arann is better insulated from the fuel price spike than other airlines.”