In a strategic move to bolster its North American operations, Aer Lingus has decided to extend its transatlantic route from Dublin, Ireland to Bradley International airport in New England into a nearly year-round offering. The airline's Chief Strategy and Planning Officer, Reid Moody, made this announcement on Tuesday.
The Airbus A321neo long range aircraft will be operating on this unique route, which is Bradley's only direct service to and from Europe. The updated flight schedule includes daily flights until October 26, thrice-weekly flights from October 28 to January 5, 2024, a break from January 6 to March 12, followed by thrice-weekly flights from March 13-28, and daily flights again from March 30 until October 2024.
This initiative not only connects Irish customers with Hartford but also facilitates travel to other parts of the United States. The Dublin airport features a US customs facility enabling passengers to complete entry requirements prior to their arrival in the US.
The Connecticut Airport Authority (CAA) welcomed this decision, noting that it ensures seamless connectivity between Ireland and various US locations including Hartford, Connecticut. Kevin A. Dillon, CAA's Executive Director, lauded Aer Lingus' exceptional service and the enhanced opportunities for travel to Connecticut and beyond.
This extension of the popular route initiated earlier this year marks a significant expansion of Aer Lingus' operations beyond the summer season.
InvestingPro data highlights that Aer Lingus, with a market cap of 13.69B USD and a P/E ratio of 7.56, has been experiencing significant revenue growth. As of the second quarter of 2023, the company's revenue growth was 23.92% with a gross profit margin of 54.97%. Moreover, the company's net income is expected to grow this year, according to InvestingPro Tips.
While the company's stock price movements have been volatile, with a 1 month price total return of -6.32%, it's worth noting that Aer Lingus has been trading at a low earnings multiple, indicating potential for future growth. The company's management has also been aggressively buying back shares, signaling their confidence in the company's prospects.
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