Aer Lingus 2014 Annual Report Download - page 13
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11
Our strategic objectives for 2015 are set out in detail on page 12.
Aer Lingus’ “value carrier” approach is the optimal operating model to implementing our strategy and to profitably serve passenger
demand
Aer Lingus categorises its “value carrier” model as being between the pure low fare models and higher cost full service offerings. This
allows the Group to compete efficiently in key markets. The key features of Aer Lingus’ value carrier proposition are:
Superior quality service offered at competitive fares
Modular offering gives passengers the freedom and flexibility to select to buy or not buy as they choose themselves
Central airport locations which enhance connectivity and convenience for our customers
Align capacity with underlying demand and manage capacity to maximise profitability
Leverage our unit cost advantage relative to the legacy carriers in order to be the “low cost” long haul carrier on the transatlantic
Enhanced connectivity options to worldwide destinations through a wide range of airline partners which epitomises “open network
architecture”, allowing us to partner across alliances and offer connectivity through major hubs to worldwide destinations on all
continents
Continue to drive traffic flow via our Dublin hub
Maintain a responsive business model to enable us to act quickly on emerging opportunities and to address risks and challenges as
these arise
Combination of mainline and Aer Lingus Regional franchise operations
Balanced approach to aircraft ownership with either owned or leased aircraft
The effectiveness of Aer Lingus’ strategy and “value carrier” operating model is clearly demonstrated by the strength of our 2014
results
KPI
Growth vs. prior year
Revenue growth
9.2%
Operating margin increase
0.3 ppts
Passenger volume growth
1.5%
Load factor increase
0.6 ppts
Revenue per seat increase
9.4%
Cost per ASK increase
1.0%
EBITDAR increase
20.3%
Free cash flow increase
92.1%
Please see financial review section for further details
Our operating model
Our results