Irish airline Aer Lingus has reported profits of €225 million in 2023, a jump of 400% compared to 2022.
Aer Lingus said in a statement that it reported revenues of €2.27 billion last year, beating 2022 sales by more than €500 million.
Ireland's national carrier said operating profits reached €225 million last year, up €167 million from 2022 when it recorded profits of €57 million.
Aer Lingus flew a total of 10.7 million passengers in 2023, but a rise in operating costs meant that the airline's profits still lagged behind pre-pandemic levels in 2019 when it recorded operating profits of €279.
Aer Lingus operated its largest-ever North American network in 2023, while it also offered more routes to European destinations.
In total, the airline had 4% more seats on offer to passengers than it did in 2019.
Aer Lingus will continue to expand its North American network in 2024, restarting its Minneapolis route and adding a new direct flight to Denver, which will take the total number of North American routes to 21 across the US and Canada.
The airline said business travel in 2023 also lagged behind pre-pandemic levels but said it was showing "some signs of recovery" in early 2024.
"These results put Aer Lingus on the right trajectory for the future," Aer Lingus Chief Executive Lynne Embleton said in a statement.
Embleton said the airline has a "compelling growth strategy" but added that its growth was currently restricted by a passenger cap imposed at Dublin Airport, which limits the number of passengers that the airport can handle to 32 million per year.
"We have a compelling growth strategy for Aer Lingus that will be good for the company, our employees, our customers and for Ireland. However, achieving it is dependent on having the right cost base and productivity levels and not being constrained by the unnecessary passenger cap issue."
An ongoing pay dispute between Aer Lingus and its employers is also due before the Irish Labour Court in the coming weeks.
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