International Airlines Group has reported profit after tax before exceptional items of €70 million for the first quarter of 2019. The figure is down 62.6 per cent on the same period last year, while adjusted earnings per share were down 57.5 per cent on a pro forma basis.
Enrique Dupuy de Lôme will be replaced by Steve Gunning, currently chief financial officer at British Airways, whose appointment as a board executive director will be proposed to the annual general meeting.
London Luton Airport has welcomed a new airline, Level, which began operating flights to Amsterdam earlier. Level, which is owned by IAG Group, will fly from Luton to Amsterdam six days a week from.
Reporting strong financial results today, International Airlines Group has also committed to purchasing up to 42 777X planes from Boeing. The commitment is valued at up to $18.6 billion at list prices.
International Airlines Group has reported operating profit before exceptional items of €3,230 million for the year to December 31st, up 9.5 per cent on the prior year figure of €2,950 million.
International Airlines Group has reported operating profit of €1,460 million before exceptional items for the nine months to September 30th, up from €1,450 million last year.
International Airlines Group has seen profits for the six months to June 30th increase to €835 million, up 5.7 per cent on the same period last year. Total revenue at the group was up 3.1 per cent, to €11.2 billion, while basic earnings per share were up more than 140 per cent to €0.68.
International Airlines Group, Ryanair, easyJet and Wizz Air have submitted complaints to the European Commission against France as its air traffic controllers’ strikes restrict the fundamental principle of freedom of movement within the EU.
International Airlines Group’s low-cost long-haul airline, Level, is expanding its fleet with two additional A330-200s, for delivery in 2019, taking its total order for the type to seven.
The inaugural French flight on International Airlines Group’s long-haul, low-cost airline brand will arrive into Montreal at 21:30 with more than 300 passengers on board a new Airbus A330-200 aircraft.
International Airlines Group is to launch a new low-cost Austrian subsidiary, branded as Level, with flights from Vienna starting on July 17th. The new subsidiary will have an Austrian air operator certificate and will be a base for four Airbus A321 aircraft.
The board of Norwegian Air Shuttle has rejected two separate proposals from International Airlines Group in relation to an acquisition of 100 per cent of the share capital in the airline.