Release date: 6 July 2004
Promoter – Financial Intermediary
Aer Lingus Group PLC
Contact - Mr. Brian Wheatley - Group Treasurer
Location
Description
Acquisition of 17 Airbus A320-200 aircraft to serve primarily European routes as part of Aer Lingus' fleet renewal programme.
Objectives
Aer Lingus has responded to changes in the air travel market by converting itself into a lower cost carrier serving primarily European and Transatlantic destinations. The company has developed its European route network, increased load factors and operating efficiency, including electronic ticket sales. This has resulted in a combination of lower fares to users and significantly improved airline profitability.
A key element in cost reduction on shorter haul routes is use of a single aircraft type. The current fleet acquisition programme will leave Aer Lingus with a homogeneous all-Airbus fleet on its European network by the end of 2005, improving operational flexibility and increasing efficiency. Passengers are expected to benefit through higher operating efficiency and lower fares than otherwise.
Comments
Air transport.
Sector(s)
Proposed EIB finance (Approximate amount)
Loan of up to USD 200 million (approximately EUR 166 million).
Total cost (Approximate amount)
Estimated by the Bank at a maximum of USD 700 million (approximately EUR 580 million).
Environmental aspects
The fleet replacement project includes phasing out of 17 less fuel-efficient aircraft. The new aircraft fulfil all current and likely future international and EU environmental standards on noise and emissions. Replacement of older aircraft will benefit the environment through energy savings and lower emissions compared to the existing aircraft.
Procurement
The company selected Airbus aircraft in 2003 following extensive evaluations.
Status
Signed - 12/08/2004
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).