International Airlines Group makes profit of €805 in the first half of 2017

Published on : Saturday, July 29, 2017


iagThe first six months of International Consolidated Airlines Group made profit of €805 million before exceptional items.


The passenger unit revenue at the group that operates Iberia and British Airways saw a rise of 1.5 per cent, or four per cent at constant currency.


It was observed that the non-fuel costs before the exceptional items for the quarter was down by 0.3 per cent, or up 3.5 per cent at constant currency.


Willie Walsh, IAG chief executive that quarter two has shown strong performance with an operating profit of €805 million before exceptional items compared to €555 million from last year.


The unit revenue improved from Easter and a weak base last year, the non-fuel unit costs before exceptional items. The non-fuel unit costs before exceptional items are up at constant currency.


The costs were inclusive of the financial impact of the power failure that affected British Airways’ customers.


The operation profit was up by 37.3 per cent despite the adverse foreign exchange impact for the year of €44 million. The profit stood at €975 million compared with €710 million of last year.


The adjusted net EBITDAR raised to 0.4 to 1.4 times. Walsh further mentioned that the sales will continue to grow ahead of their expectations.Three additional aircrafts are already ordered and other European bases are also being considered.

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