International Airline Group Reports Good Second-Quarter Operating Profits
International Airlines Group has reported a second quarter operating profit of €960 million before exceptional items.
The figure is an increase on the €900 million reported for the same period of 2018, with shares in the company up five percent in response.
Passenger unit revenue for the quarter was up 3.1 percent, or up 1.1 percent at constant currency.
Willie Walsh, IAG chief executive, said: “Despite fuel cost headwinds, we delivered a good performance.
“At constant currency, fuel unit costs were up 6.3 percent while passenger unit revenue increased 1.1 per cent, benefitting from the timing of Easter.
“This highlights, once again, that our unique structure and diverse brand portfolio underpins our financial resilience and ability to deliver robust results”.
Non-fuel unit costs before exceptional items for the quarter were up 1.6 percent, or up 0.4 percent at constant currency on a pro forma basis. International Airlines Group owns British Airways, Vueling, Aer Lingus and Iberia.