IAG reports EUR155 EBIT in 1Q2016

International Consolidated Airlines Group (IAG) revenue up 8% - financial highlights for three months ended 31-Mar-2016:

• Total revenue: USD5078 million, +7.9% year-on-year;
• • Passenger: USD4465 million, +8.0%;
  • Cargo: USD262 million, -1.5%;
• Total operating costs: USD4923 million, +5.1%;
• • Labour: EUR1226 million, +9.1%;
  • Fuel*: EUR1191 million, -14.3%;
• Operating profit*: EUR155 million, +520%;
• Net profit*: EUR93 million, +458%;
• Passenger numbers: 20.4 million, +22.1%;
• Passenger load factor: 78.9%, +1.2 ppt;
• Passenger yield: EUR 8.55 cents, -5.1%;
• Passenger revenue per ASK: EUR 6.75 cents, -3.5%;
• Cargo volume: 205,000 tonnes, -6.0%;
• Cargo yield: EUR 19.85 cents, -1.9%;
• Total cost per ASK: EUR 7.44 cents, -6.1%;
• Cost per ASK excl fuel: EUR 5.64 cents, +1.3%.

*Before exceptional items

IAG: "Revenue trends in quarter two have been affected by the aftermath of the Brussels terrorist attacks, as well as some softness in underlying premium demand. As a result, IAG has moderated its short term capacity growth plans. The Group also expects to reduce its underlying ex-fuel unit costs for the full year by around one per cent. Consequently, in 2016, IAG still expects to generate an absolute operating profit increase similar to 2015." Source: Company statement, 29-Apr-2016.