NINE MONTHS RESULTS ANNOUNCEMENT
International Consolidated Airlines Group (IAG) today (November 9, 2012) presented Group consolidated results for the nine months ended September 30, 2012 and 2011. In addition, IAG presented combined results for the nine months comparative period ended September 30, 2011, including Iberia's first 21 days of January 2011.
IAG period highlights:
- Third quarter operating profit of €270 million, before exceptional items, €301 million excluding bmi (2011: operating profit €363 million, before exceptional items)
- Passenger unit revenue up 9.1 per cent for the quarter, flat at constant currency
- Fuel unit costs up 15.4 per cent for the quarter, up 1.6 per cent at constant currency
- Non fuel unit costs before exceptional items up 8.5 per cent for the quarter, up 1.6 per cent at constant currency
- IAG made an operating profit in the nine months of €17 million, British Airways an operating profit of €286 million, and Iberia an operating loss of €262 million
- Passenger revenue in the nine months up 12.7 per cent, passenger unit revenue up 9.1 per cent, on top of volume increases of 3.3 per cent
- Fuel costs up 23.5 per cent to €4,633 million (2011: €3,751 million before exceptional items)
- Non fuel costs before exceptional items, up 10.9 per cent. Non fuel unit costs up 7.4 per cent, or 2.6 per cent at constant currency
- Cash for the nine months down €170 million to €3,565 million, net debt up €360 million to €1,508 million, adjusted gearing up 1pt to 45 per cent
