AIRLINE METRICS · AER LINGUS
Aer Lingus
Reported financial performance, unit economics, traffic, cash and fleet data for Aer Lingus within IAG.
Latest: H1 2026 · six months to 30 June 2026
Latest read
Aer Lingus entered COVID from the strongest margin base of the four main IAG airlines, then operated the lowest 2021 capacity relative to 2019. The expanded history makes the scale of that interruption—and the subsequent recovery—much clearer.
Eight-year reported history
€ million. 2020–2021 operating results are before exceptional items.
| Year | Revenue | Operating result | Margin | ASK | Load factor | PRASK | Ex-fuel CASK | Cash |
|---|---|---|---|---|---|---|---|---|
| 2018† | 2,020 | 305 | 16.8% | 29.030bn | 81.0% | 6.73c | 4.59c | — |
| 2019 | 2,125 | 276 | 13.0% | 30.255bn | 81.8% | 6.81c | 4.59c | €580m |
| 2020‡ | 470* | -361* | -76.8% | COVID-reduced | — | — | — | €266m |
| 2021‡ | 377* | -347* | -92.1% | 24.4% of 2019 | — | — | — | €228m |
| 2022 | 1,769 | 45 | 2.6% | — | — | — | — | €375m |
| 2023 | 2,274 | 225 | 9.9% | — | 80.6% | — | — | — |
| 2024 | 2,376 | 205 | 8.6% | 32.676bn | 80.5% | — | — | €567m |
| 2025 | 2,529 | 282 | 11.1% | 34.848bn | 79.4% | 7.04c | 4.65c | €694m |
† 2018 predates IFRS 16 adoption. ‡ COVID-distorted year. *Pre-exceptional/APM reporting. Aer Lingus operated only 24.4% of 2019 ASK in 2021, the lowest recovery level among IAG’s four main operating airlines.
Unit economics
| Period | PRASK | Ex-fuel CASK | ASK | Load factor |
|---|---|---|---|---|
| FY2018 | 6.73c | 4.59c | 29.030bn | 81.0% |
| FY2019 | 6.81c | 4.59c | 30.255bn | 81.8% |
| FY2025 | 7.04c | 4.65c | 34.848bn | 79.4% |
| H1 2026 | 6.55 €c* | 5.00 €c* | 16.647bn | 77.7% |
*Calculated from same-scope IAG passenger revenue, costs and ASK.
H1 2026 operating dashboard
| Metric | H1 2026 | Basis / context |
|---|---|---|
| Passengers | 5.375m | +1.2% YoY |
| Revenue | €1.146bn | External revenue €1.132bn |
| Operating result | -€34m | Before exceptional items |
| Operating margin | -3.0% | Calculated |
| RPK | 12.943bn | Reported |
| ASK | 16.647bn | +1.8% YoY |
| Passenger revenue | €1.091bn | Reported |
| Fuel cost | €347m | Airline segment |
Cash, fleet and productivity
What to watch
- North Atlantic pricing and competitive capacity.
- A321XLR utilisation on thinner long-haul routes.
- Dublin hub connectivity and airport capacity.
- Recovery from H1 2026’s fuel-driven margin deterioration.
Sources and methodology
IAG Annual Reports and full-year results 2018–2025, IAG H1 2026 and Aer Lingus disclosures. Pandemic years use pre-exceptional results for better year-to-year comparability.
2018 report · 2019 results · 2020 results · 2021 results · Aer Lingus 2025 report