these forward-looking statements. You should not place undue
reliance on any forward-looking statements. The risk factors
included in the Group's Annual Report could cause the Group's
results to differ materially from those expressed in
forward-looking statements. There may be other risks and
uncertainties that the Company is unable to predict at this time or
that the Company currently does not expect to have a material
adverse effect on its business. The forward-looking statements
referred to in this paragraph apply only as at the date of this
Announcement. The Group will not undertake any obligation to
release publicly any revision or updates to these forward-looking
statements to reflect future events, circumstances, unanticipated
events, new information or otherwise except as required by law or
by any appropriate regulatory authority.
The forward-looking statements in this Announcement do not
constitute reports or statements published in compliance with any
of Regulations 4 to 9 and 26 of the Transparency (Directive
2004/109/EC) Regulations 2007.
Note on unaudited operating and financial information
This Announcement contains unaudited operating and financial
information in relation to the business of Aer Lingus extracted
from the following sources: (1) management accounts for the
relevant accounting periods; (2) internal financial and operating
reporting systems supporting the preparation of financial
statements; and (3) internal non-financial operating reporting
systems. These management accounts are prepared using information
extracted from accounting records used in the preparation of the
Group's historical financial information, although they may also
include certain other management assumptions and analyses.
Responsibility Statement
The Directors are responsible for preparing this H1 2015 results
report and the condensed consolidated interim financial statements
in accordance with the Transparency (Directive 2004/109/EC)
Regulations 2007, the related Transparency Rules of the Central
Bank of Ireland and with IAS 34, Interim Financial Reporting as
adopted by the European Union.
Each of the Directors, being those whose names and functions are
listed on pages 34 to 36 of our 2014 Annual Report, confirm that,
to the best of each person's knowledge and belief:
-- the condensed consolidated interim financial statements for
the half year ended 30 June 2015 have been prepared in accordance
with the international accounting standard applicable to interim
financial reporting, IAS 34, adopted pursuant to the procedure
provided for under Article 6 of the Regulation (EC) No. 1606/2002
of the European Parliament and of the Council of 19 July 2002;
-- the H1 2015 results report includes a fair review of the
important events that have occurred during the first six months of
the financial year, and their impact on the condensed consolidated
interim financial statements for the half year ended 30 June 2015,
and a description of the principal risks and uncertainties for the
remaining six months; and
-- the H1 2015 results report includes a fair review of related
party transactions that have occurred during the first six months
of the current financial year and that have materially affected the
financial position or the performance of the Group during that
period, and any changes in the related parties' transactions
described in the last annual report that could have a material
effect on the financial position or performance of the Group in the
first six months of the current financial year.
Signed on behalf of the Board
Bernard Bot Stephen Kavanagh
Director and Chief Financial Officer Director and Chief Executive Officer
29 July 2015
Independent review report to Aer Lingus Group plc
Report on the condensed consolidated interim financial
statements
Our conclusion
We have reviewed the condensed consolidated interim financial
statements, defined below, in the H1 2015 results report of Aer
Lingus Group plc for the six months ended 30 June 2015. Based on
our review, nothing has come to our attention that causes us to
believe that the condensed consolidated interim financial
statements are not prepared, in all material respects, in
accordance with International Accounting Standard 34 as adopted by
the European Union and the Transparency (Directive 2004/109/EC)
Regulations 2007 and the Transparency Rules of the Central Bank of
Ireland.
This conclusion is to be read in the context of what we say in
the remainder of this report.
What we have reviewed
The condensed consolidated interim financial statements, which
are prepared by Aer Lingus Group plc, comprise:
-- the condensed consolidated interim statement of financial position as at 30 June 2015;
-- the condensed consolidated interim income statement and
condensed consolidated interim statement of comprehensive income
for the period then ended;
-- the condensed consolidated interim statement of changes in
equity for the period then ended;
-- the condensed consolidated interim statement of cash flows for the period then ended; and
-- the explanatory notes to the condensed consolidated interim financial statements.
As disclosed in note 2, the financial reporting framework that
has been applied in the preparation of the full annual financial
statements of the group is applicable law and International
Financial Reporting Standards (IFRSs) as adopted by the European
Union.
The condensed consolidated interim financial statements included
in the H1 2015 results report have been prepared in accordance with
International Accounting Standard 34, 'Interim Financial
Reporting', as adopted by the European Union and the Transparency
(Directive 2004/109/EC) Regulations 2007 and the Transparency Rules
of the Central Bank of Ireland.
What a review of condensed consolidated interim financial
statements involves
We conducted our review in accordance with International
Standard on Review Engagements (UK and Ireland) 2410, 'Review of
Interim Financial Information Performed by the Independent Auditor
of the Entity' issued by the Auditing Practices Board for use in
the United Kingdom and Ireland. A review of interim financial
information consists of making enquiries, primarily of persons
responsible for financial and accounting matters, and applying
analytical and other review procedures.
A review is substantially less in scope than an audit conducted
in accordance with International Standards on Auditing (UK and
Ireland) and, consequently, does not enable us to obtain assurance
that we would become aware of all significant matters that might be
identified in an audit. Accordingly, we do not express an audit
opinion.
We have read the other information contained in the H1 2015
results report and considered whether it contains any apparent
misstatements or material inconsistencies with the information in
the condensed consolidated interim financial statements.
Responsibilities for the condensed consolidated interim
financial statements and the review
Our responsibilities and those of the directors
The H1 2015 results report, including the condensed consolidated
interim financial statements, is the responsibility of, and has
been approved by, the directors. The directors are responsible for
preparing the H1 2015 results report in accordance with the
Transparency (Directive 2004/109/EC) Regulations 2007 and the
Transparency Rules of the Central Bank of Ireland.
Our responsibility is to express to the company a conclusion on
the condensed consolidated interim financial statements in the H1
2015 results report based on our review. This report, including the
conclusion, has been prepared for and only for the company for the
purpose of complying with the Transparency (Directive 2004/109/EC)
Regulations 2007 and the Transparency Rules of the Central Bank of
Ireland and for no other purpose. We do not, in giving this
conclusion, accept or assume responsibility for any other purpose
or to any other person to whom this report is shown or into whose
hands it may come save where expressly agreed by our prior consent
in writing.
PricewaterhouseCoopers
Chartered Accountants
Dublin,
Ireland
29 July 2015
Notes:
(a) The maintenance and integrity of the Aer Lingus Group plc
website is the responsibility of the directors; the work carried
out by the auditors does not involve consideration of these matters
and, accordingly, the auditors accept no responsibility for any
changes that may have occurred to the financial statements since
they were initially presented on the website.
(b) Legislation in the Republic of Ireland governing the
preparation and dissemination of financial statements may differ
from legislation in other jurisdictions.
Condensed consolidated interim income statement (unaudited)
Six months ended 30 June
Note 2015 2014
EUR'000 EUR'000
Revenue 6 748,956 697,198
------------------------------------------- ---- -------- --------
Operating expenses (before net exceptional
items)
Staff costs 152,766 143,143
Depreciation and amortisation 45,796 44,893
Aircraft operating lease costs 43,822 29,896
Fuel and oil costs 190,554 170,304
Maintenance expenses 33,993 35,035
Airport charges 157,696 148,926
En-route charges 32,109 29,457
Distribution charges 37,199 30,709
Ground operations, catering and other
operating costs 77,585 73,600
Other (gains)/losses - net 8 (8,642) 1,090
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