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International Airlines Group remains in the red in 1Q2013, current trading in line with expectations

13-May-2013 2:17 PM

International Airlines Group revenue up 1% - financial highlights for three months ended 31-Mar-2013:

  • Total revenue: EUR3939 million, +0.5% year-on-year;
    • Passenger: EUR3346 million, +1.7%;
    • Cargo: EUR270 million, -7.2%;
  • Operating costs: EUR4528 million, +9.6%;
    • Fuel: EUR1361 million, -3.4%;
    • Labour: EUR1299 million, +30.7%;
  • Operating profit (loss) before exceptional items: (EUR278 million), compared to a loss of EUR249 million in p-c-p;
  • Operating profit (loss) after exceptional items: (EUR589 million), compared to a loss of EUR212 million in p-c-p;
  • Net profit (loss): (EUR630 million), compared to a loss of EUR129 million in p-c-p;
  • Passenger numbers: 11.8 million, +3.4%;
  • Cargo traffic: -8.0%;
  • Passenger load factor: 77.4%, +1.3 ppt;
  • Cargo yield: EUR 19.79 cents, +0.8%;
  • Passenger yield: EUR 8.58 cents, +2.1%;
  • Passenger revenue per ASK: EUR 6.64 cents, +3.9%;
  • Total cost per ASK: EUR 8.37 cents, +3.3%;
  • Cost per ASK excl fuel: EUR 5.67 cents, +5.8%. [more - original PR]

IAG: “Current trading is in line with our expectations. For 2013, excluding Vueling, we expect to reduce Group capacity by 1.8%, and keep non-fuel unit cost flat versus last year.” Source: Company statement, 10-May-2013.