IAG reports EUR1.9bn operating loss in 3Q2020

IAG reported (30-Oct-2020) the following financial highlights:

• Three months ended 30-Sep-2020:
  • Total revenue: EUR1217 million, -83.3% year-on-year;
    • Passenger: EUR715 million, -89.0%;
    • Cargo: EUR302 million, +12.3%;
  • Total operating costs: EUR3135 million, -46.3%;
    • Labour: EUR977 million, -20.0%;
    • Fuel: EUR700 million, -57.1%;
  • Operating profit (loss): (EUR1918 million), compared to profit of EUR1425 million in p-c-p;
  • Net profit (loss): (EUR1761 million), compared to profit of EUR1008 million in p-c-p;
  • Passenger yield: EUR 7.62 cents, -5.0%;
  • Passenger revenue per ASK: EUR 3.73 cents, -47.0%;
  • Cargo yield: EUR 41.94 cents, +110%;
  • Total cost per ASK: EUR 12.84 cents, +103%;
  • Cost per ASK excl fuel: EUR 10.97 cents, +141%;
• Nine months ended 30-Sep-2020:
  • Total revenue: EUR6505 million, -66.3%;
    • Passenger: EUR4828 million, -71.7%;
    • Cargo: EUR917 million, +11.2%;
  • Total operating costs: EUR12,460 million, -25.7%;
    • Fuel: EUR3282 million, -28.2%;
    • Labour: EUR2867 million, -22.8%;
  • Operating profit (loss): (EUR5955 million), compared to profit of EUR2520 million in p-c-p;
  • Net profit (loss): (EUR5567 million), compared to profit of EUR1814 million in p-c-p;
  • Passenger yield: EUR 7.83 cents, -0.7%;
  • Passenger revenue per ASK: EUR 5.35 cents, -19.9%;
  • Cargo yield: EUR 37.11 cents, +86.6%;
  • Total cost per ASK: EUR 10.68 cents, +62.9%;
  • Cost per ASK excl fuel: EUR 8.84 cents, +85.3%. [more - original PR]