IAG Profits Increase Despite BA Power Outage
International Airlines Group has revealed a double digit rise in profits in its first half- year report, despite a power failure affecting customers at British Airways in May.
A strong Easter and low fuel costs helped the group, which owns BA and Iberia, to boost its operating profit by 45% to €805 million for the second quarter of the year.
“We’re reporting a very strong performance in quarter 2 with an operating profit of €805 million before exceptional items which is up from €555 million last year,” commented Willie Walsh, IAG’s chief executive.
“The underlying trend in unit revenue improved, benefitting partially from Easter and a weak base last year.
Non-fuel unit costs before exceptional items are up, at constant currency. These costs include the financial impact of the power failure which affected British Airways’ customers.
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