IAG operating profit more than doubles in 3Q2013, expects EUR740m in 2013

International Consolidated Airlines Group (IAG) revenue up 7% - financial highlights* for three months ended 30-Sep-2013:

• Total revenue: EUR5406million, +6.9% year-on-year;
• • Passenger: EUR4801 million, -10.4%;
  • Cargo: EUR256 million, -14.1%;
• Operating costs: EUR4716 million, -1.5%;
• • Fuel: EUR1611 million, -3.0%;
  • Labour: EUR1006 million, -7.5%;
• Operating profit: EUR690 million, +156%;
• • Iberia: EUR74 million, compared to a profit of EUR1 million in p-c-p;
  • British Airways: EUR477 million, +78%;
  • Vueling: EUR139 million;
• Net profit: EUR577 million, +122%;
• Passenger numbers: 21.3 million, +35.2%;
• Load factor: 84.7%, stable;
• Passenger yield: EUR 8.92 cents, +1.2%;
• Passenger revenue per ASK: EUR 7.55 cents, +1.2%;
• Cargo yield: EUR 18.36 cents, -7.0%;
• Total cost per ASK: EUR 7.42 cents, -9.6%;
• Cost per ASK excl fuel: EUR 4.88 cents, -9.0%. [more - original PR]

*Before exceptional items

IAG: "The Group expects an operating profit for 2013, before exceptional items, of around EUR740 million. Current trading is in line with underlying recent trends. Our capacity plans remain unchanged. For the full year, we expect to grow Group capacity by 5.2 per cent (reduction of 2.4 per cent excluding Vueling). In addition, we should see a reduction in non-fuel unit costs in 2013. Moving into 2014, we expect the driver of revenue growth to shift from yield to volume due to new British Airways route launches and the strong growth of Vueling." Source: Company statement, 08-Nov-2013.