Statement re Long Haul Fleet

Deferral of aircraft delivery and early lease termination
 
Significantly reduced near-term capital expenditure commitments
 
Aer Lingus Group plc ('Aer Lingus' or 'the Group') today announced that  agreement had been reached with Airbus that will allow Aer Lingus to  stabilise its long-haul fleet at eight aircraft until 2013 and  significantly reduce its capital commitments in the next three years.
 
 Aer Lingus will take delivery of one new A330-300 as planned, in April  2010. Aer Lingus has agreed with Airbus to adjust the delivery schedule  of the following three A330s, and the first two A350s, with delivery  scheduled over the period 2013 to 2015.
 
 Aer Lingus has negotiated this revised delivery schedule at no  additional cost to the Group. In addition to future flexibility on  deliveries, the pre-delivery payment schedule for A330s and A350s will  be revised to reflect changes to the delivery schedule.
 
Early Termination of Leased Aircraft
As part of its fleet re-structuring plan, Aer Lingus has also reached  agreement to reduce its current long-haul fleet through the early  termination of existing lease agreements with respect to two A330  aircraft.
 
 An A330 will exit the fleet in October 2009 (18 months ahead of  schedule) and a further A330 will exit the fleet in March 2010 (14  months ahead of schedule). This is in addition to the two leased A330s  already returned during 2009.
 
Revised Fleet Delivery Plan
These initiatives will reduce the planned operating fleet to a maximum  of eight aircraft in 2010. A maximum of seven aircraft are planned to  operate Aer Lingus long-haul services with a single aircraft available  to invest in a Joint Venture with United Airlines to operate service  between Washington and Madrid.
 
These agreements represent a successful outcome for Aer Lingus;  significantly reduce the Group’s planned capital expenditure for the  next three years; and, will contribute to a significantly stronger net  cash position and balance sheet during the current challenging trading  environment.
 
Full details of the amendments to the delivery schedule are set out  below.
 
Amended A330 & A350XWB Delivery Schedule
Details of the amended delivery schedule for the Group’s 2007 Airbus  aircraft order are outlined below. The pre-delivery payment schedule for  both the A330 and A350 aircraft has also been amended in line with the  changes to the delivery schedule
  
  Aircraft                  Planned Delivery   
  A330-300 # 1         Already Delivered   
  A330-300 # 2         Already Delivered   
  A330-300 # 3         April, 2010   
  A330-300 # 4         Q3, 2013 *   
  A330-300 # 5         Q4, 2013 *   
  A330-300 # 6           Q1, 2014 *    

 * Potential to convert to A350 for delivery at a later date  agreed with Airbus.
  
Aircraft               Planned Delivery   
A350XWB # 1       H1, 2015   
A350XWB # 2       H1, 2015   
A350XWB # 3       H2, 2015   
A350XWB # 4       H2, 2015   
A350XWB # 5       H1, 2016   
A350XWB # 6       H1, 2016    

(c) Centre for Asia Pacific Aviation. Date posted: 5-Aug-09