annual report 2009 - Aer Lingus

Financial HighlightsFor the year ended 31 December 2009ContentsChairman’s Statement 2Chief Executive Officer’s Review 4Operating and Financial Review 6Results2009 2008 1 ChangeBoard of Directors 10Executive Management Team 12Revenue €m 1,205.7 1,355.0 (11.0%)EBITDAR 2 €m 57.5 103.1 (44.2%)Operating loss before net exceptional items €m (81.0) (20.0) 305.0%Net exceptional items €m (88.6) (140.9) (37.1%)Operating loss after net exceptional items €m (169.6) (160.9) 5.4%Net finance income €m 14.8 38.8 (61.9%)Income tax credit €m 24.7 12.2 102.5%Loss for the year €m (130.1) (109.9) 18.4%Total equity €m 704.5 762.5 (7.6%)Loss per share €cent (24.6) (20.7) 18.8%Gross cash 3 €m 828.5 1,206.8 (31.3%)Corporate SocialResponsibility Statement 13Directors’ Report 26Report of the RemunerationCommittee on Directors’Remuneration 38Independent Auditor’s Report 43Financial Statements 45Shareholder Information 90Operating and Financial Statistics 92Key financial statisticsPassenger/ancillary revenue per RPK €cent/RPK 7.4 8.0 (7.5%)Unit cost, excluding fuel 4 €cent/RPK 3.85 3.80 1.3%Unit cost, including fuel €cent/RPK 5.41 5.60 (3.4%)EBITDAR margin % 4.8% 7.6% (2.8pt)Operating margin % (6.7%) (1.5%) (5.2pt)Key operating statistics 5Passengers carried ‘000 10,382 10,001 3.8%Revenue passenger kilometres (RPK) m 15,819 16,277 (2.8%)Available seat kilometres (ASK) m 21,228 22,370 (5.1%)Passenger load factor % 74.5% 72.8% 1.7pt1 2008 figures have been restated following the adoption of IFRIC 13 Customer Loyalty Programmes.2 Earnings before employee profit share, interest, tax, depreciation, amortisation and aircraft rentals.3 Gross cash is defined as loans and receivables, deposits and cash and cash equivalents.4 Unit cost is based on total operating costs, excluding depreciation, amortisation, aircraft rentals,employee profit share and fuel, divided by revenue passenger seat kilometres.5 Key operating statistics related to scheduled passenger operations.