Oireachtas Joint and Select Committees
Wednesday, 14 December 2022
Joint Oireachtas Committee on Transport, Tourism and Sport
National Aviation Policy: Aer Lingus (Resumed)
Mr. Reid Moody:
On the short-haul fleet, we have taken on two addition aeroplanes this year, have plans to take a further two next year, and we have committed plans for next year and for 2024 to take another two. The key thing here, however, is that it has to be profitable growth. We cannot commit to aircraft unless we know that growth is going to be profitable.
On risk, where we might have been able to take a little more risk previously and pre-Covid-19, where we had the strength of balance sheet, that kind of risk appetite is reduced. We have a very significant amount of debt to repay. We have committed to extra short-haul fleet, as I said, two this year, two next year and two in 2024. We will have to put together a business case then for any additional short-haul aircraft beyond that period. That business case will need to be based upon a profitable return on that investment. We will definitely try to do that, it is part of our long-term strategy, but it has to be a business case that makes economic sense. That is purely in our plan, we will be doing that, and it is something we are looking at right the way through the rest of the decade. But beyond-----
No comments