DUBLIN (dpa-AFX) - Aer Lingus Group plc (AERL.L) reported preliminary loss before tax of 111.5 million euros for the year ended 31 December 2014, compared to profit of 39.6 million euros, previous year. The company noted that its 2014 loss before tax reflects net exceptional items of 180.3 million euros, (primarily related to the IASS pension solution) and staff stabilisation payments (included within staff costs) of 9.3 million euros.
Loss attributable to owners of the parent was 95.8 million euros, compared to profit of 34.1 million euros. Loss per share in euro cents, was 18.0, compared to profit of 6.4 in euro cents.
Operating profit before net exceptional items rose 17.8% to 72.0 million euros from 61.1 million euros. Revenue increased to 1.56 billion euros from 1.43 billion euros.
The Board of Aer Lingus said it is willing to recommend the financial terms of IAG's offer to shareholders. Aer Lingus has confirmed IAG's intentions to preserve Aer Lingus as a separate operating business within the group with its own brand, management, head office and operations
Colm Barrington, Aer Lingus Chairman, said: 'Our performance in 2014 was strong. To enhance these excellent results and to accelerate Aer Lingus' growth, it is the Board's strong belief that the company should now take the opportunity to combine with IAG. In this combination Aer Lingus will operate as a separate business while gaining access to IAG's extensive network and benefiting from its scale.'
Aer Lingus said the company is currently in an offer period as defined by the Irish Takeover Rules. The Group is therefore not issuing specific guidance with regard to 2015 operating profit performance while it remains in the offer period.
The Board of Aer Lingus has agreed to recommend to shareholders an increase in the annual dividend from four cent per share to five cent per share.
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