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Iberia revenue down 19%, ends 2009 with losses

26-Feb-2010 3:23 PM

Iberia revenue down 19% - financial highlights:

  • Three months ended 31-Dec-2009:
    • Operating revenue*: EUR1,076 million, -19.0% year-on-year;
    • Operating cost*: EUR1,208 million, -13.2%;
      • Labour: EUR372 million, +19.6%;
      • Fuel: EUR295 million, -36.5%;
    • EBITDAR (loss)*: (EUR8 million), compared to a profit of EUR81 million in the previous corresponding period;
    • Recurring EBIT (loss)*: (EUR132 million), compared to a loss of EUR63 million in the previous corresponding period;
    • Operating profit (loss)^: (EUR145 million), compared to a loss of EUR25 million in the previous corresponding period;
    • Profit (loss) before tax: (EUR155 million), compared to a loss of EUR28 million in the previous corresponding period;
    • Profit (loss) after tax: (EUR91 million), compared to a loss of EUR19 million in the previous corresponding period;
    • Passenger traffic (RPKs): -4.4%;
    • Load factor: 79.2%, +1.7 ppt;
    • Yield: EUR 6.4 cents, -16.2%;
    • Operating revenue per ASK*: EUR 7.25 cents, -13.4%;
    • Passenger revenue per ASK: EUR 5.07 cents, -14.3%;
    • Operating cost per ASK*: EUR 8.13 cents, -7.2%;
  • 12 months ended 31-Dec-2009:
    • Operating revenue*: EUR4,409 million, -19.1%;
    • Operating cost*: EUR4,873 million, -11.9%;
      • Labour: EUR1,348 million, +2.0%;
      • Fuel: EUR1,184 million, -28.9%;
    • EBITDAR*: EUR61 million, -87.8%;
    • Recurring EBIT (loss)*: (EUR464 million), compared to a loss of EUR79 million in the previous corresponding period;
    • Operating profit (loss)^: (EUR475 million), compared to a profit of EUR5 million in the previous corresponding period;
    • Profit (loss) before tax: (EUR435 million), compared to a profit of EUR36 million in the previous corresponding period;
    • Profit (loss) after tax: (EUR273 million), compared to a loss of EUR32 million in the previous corresponding period;
    • Passenger traffic: -6.2%;
    • Load factor: 79.8%, -0.2 ppt;
    • Yield: EUR 6.32 cents, -14.1%;
    • Operating revenue per ASK*: EUR 7.09 cents, -14.0%;
    • Passenger revenue per ASK: EUR 5.05 cents, -14.3%;
    • Operating cost per ASK*: EUR 7.84 cents, -6.3%. [more]

*Only recurring items

^Includes non-recurring items

Iberia: “The aviation transport industry is especially sensitive to economic conditions, and the outlook for global economic growth continues to be uncertain and subject to significant risk. A key aspect of the future outlook for the air transport sector is the level of uncertainty concerning recovery rates for both tourist and business class demand. The reduction in business class passengers has been substantial throughout 2009 and has had a knock-on effect on yield,” Company statement. Source: Iberia, 25-Feb-2010.