Pilot strikes weigh on IAG results for third quarter
International Airlines Group has reported a third quarter operating profit of €1,425 million.
The figure is down from the €1,530 million reported for the same period last year, with the organisation hit by pilot strikes at British Airways last month.
IAG – which also owns Iberia, Aer Lingus and Vueling – said the strikes cost €155 million
Passenger unit revenue for the quarter was down 0.5 per cent, or down 1.1 per cent at constant currency.
Willie Walsh, IAG chief executive, said: “These are good underlying results.
“As we said in September, our performance has been affected by industrial action by pilots’ union BALPA and other disruption including threatened strikes by Heathrow airport employees.
“In addition, our fuel bill increased by €136 million during the quarter with fuel unit costs up 4.2 per cent at constant currency.”
IAG announced an interim dividend of 14.5 cents per share following the release of the results.