International Consolidated Airlines Group (IAG) today presented Group consolidated results for the six months to June 30, 2019.
The owner of British Airways, Iberia, Aer Lingus, LEVEL and Vueling, said second-quarter operating profit had risen to 960 million euros ($1.1bn).
This was 5 per cent ahead of the 914 million euro ($1.01bn) forecast by a company poll of analysts, and up from 900 million euro ($998m) last year.
Willie Walsh, IAG Chief Executive Officer, said:
“In Q2 we’re reporting an operating profit of €960 million before exceptional items, up from €900 million last year.
“Despite fuel cost headwinds, we delivered a good performance. At constant currency, fuel unit costs were up 6.3 per centwhile 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 andability to deliver robust results”.