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IAG revenue up 2.2% in 3Q2011

7-Nov-2011 12:46 PM

IAG revenue up 2.2% - consolidated financial highlights for the three months ended Sep-2011:

  • Total revenue: EUR4490 million, +2.2% year-on-year;
    • Passenger: EUR3813 million, +2.9%;
    • Cargo: EUR288 million, +0.3%;
  • Operating costs: EUR4139 million, +7.1%;
    • Fuel: EUR1388 million, +25%;
    • Labour: EUR947 million, -2.2%;
  • Operating profit: EUR351 million, -33.5%;
  • Profit after tax: EUR267 million, -26.2%;
  • Passenger numbers: 14.6 million, -2.7%;
  • Seat factor: 84.5%, +0.3 ppt;
  • Cargo traffic (FTKs): +1.2%;
  • Passenger yield per RPK: EUR8.11 cents, -0.4%;
  • Passenger unit revenue per ASK: EUR6.85 cents, -0.1%;
  • Cargo yield per FTK: EUR19.28 cents, -0.8%. [more – original PR]

IAG: “Given the disruption and non-recurring accounting items in 4Q2010, we are confident of a higher level of profitability in 4Q this year, even after the negative impact of the high fuel price. We expect to deliver a 2011 full-year operating profit of around double the year 2010 profits. Although we saw some demand softness in October, forward bookings for premium cabins are currently broadly in line with levels seen last year. Non-premium cabins are weaker than last year, particularly in the Spanish market. We remain ready to adjust our capacity quickly to respond to any sustained downturn.” Source: Company statement, 04-Nov-2011.