12-Nov-2012 2:12 PM

IAG operating profit down 25% in 3Q2012, expects EUR120m loss in FY2012

IAG revenue up 13% – financial highlights for three months ended 30-Sep-2012:

  • Total revenue: EUR5056 million, +12.6% year-on-year;
    • Passenger: EUR4350 million, +14.1%;
    • Cargo: EUR298 million, +3.5%;
  • Total operating costs: EUR4793 million, +16.0%;
    • Fuel: EUR1660 million, +20.9%;
    • Labour: EUR1090 million, +14.9%;
  • Operating profit: EUR263 million, -25.1%;
  • Net profit: EUR202 million, -24.3%;
  • Passenger numbers: 15.8 million, +8.3%;
  • Passenger load factor: 84.7%, +0.2 ppt;
  • Passenger yield: EUR 8.82 cents, +8.8%;
  • Passenger revenue per ASK: EUR 7.47 cents, +9.1%;
  • Cargo traffic (CTKs): +1.1%;
  • Cargo yield: EUR 19.72 cents, +2.3%;
  • Total cost per ASK: EUR 8.21 cents, +10.8%;
  • Cost per ASK excl fuel: EUR 5.37 cents, +8.5%;
  • Cash and interest bearing deposits: EUR3565 million, -4.6% when compared to period ended 31-Dec-2011;
  • Net debt: EUR1508 million, +31.4% when compared to period ended 31-Dec-2011. [more – original PR]

IAG: “The revenue trend in quarter 3 was restrained somewhat due to the London Olympics, but we are so far observing that underlying unit revenue is returning to its positive trend in quarter 4. Including the impact of Hurricane Sandy and continued weakness in Iberia, we now expect to make an operating loss for 2012 in the region of EUR120 million, after bmi trading losses and exceptional items. The expectation does not take into account any impact of the Iberia restructuring plans.” Source: Company statement, 09-Nov-2012.

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