IAG sees flat FY as interim operating profits fall
International Consolidated Airlines Group
€3.73
18:16 09/01/25
Interim operating profits at British Airways owner IAG fell to €1bn (£920m) from €1.1bn as passenger revenue rose to €10.6bn from €9.9bn a year earlier, offsetting higher fuel costs.
IBEX 35
11,768.50
18:44 09/01/25
Fuel unit costs for the second quarter rose 12.4% or 6.3% on a constant currency basis. The company said it expected 2019 operating profit before exceptional items to be in line with 2018 pro forma at current fuel prices and exchange rates.
Pre-tax profits fell to €1bn from €1.6bn. Second-quarter operating profit came in at a better-than-expected €960m, up 5% on a company poll of analysts and from €816m last year.
IAG said it expected passenger unit revenue to improve for the rest of the year on a constant currency basis.
The company also said it would appeal a record £183m fine proposed by the Information Commissioner's Office after a data breach last year that saw the personal and financial details of BA customers who made bookings through ba.com or the its mobile app had been stolen.
"It is British Airways' intention to vigorously defend itself in this matter, including using all available appeal routes should they be required."