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Half Yearly Report
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International Consolidated Airlines Group (IAG) today (August 3, 2012) presented Group consolidated results for the six months ended June 30, 2012 and 2011. In addition, IAG presented combined results for the six months comparative period ended June 30, 2011, including Iberia’s first 21 days of January in 2011.

IAG period highlights on combined results:

  • Second quarter operating loss of €4 million, before exceptional items (2011: operating profit €190 million)
  • Operating loss for the half year of €253 million before exceptional items (2011: operating profit €88 million)
  • British Airways made an operating profit, after exceptional items, of €13 million in the half year to June 30, 2012 and Iberia made an operating loss of €263 million
  • Loss before tax for the half year of €390 million (2011: profit before tax of €39 million)
  • Revenue for the half year up 9.8 per cent to €8,532 million (2011: €7,773 million), including €278 million or 3.6 per cent currency impact
  • Passenger unit revenue for the half year up 8.9 per cent, on top of capacity increases of 2.6 per cent
  • Fuel costs up 25.0 per cent to €2,973 million (2011: €2,378 million before exceptional items)
  • Non fuel costs before exceptional items, up 9.5 per cent at €5,812 million, including €198 million of adverse currency impact. Non-fuel unit costs up 6.7 per cent, or 3.0 per cent at constant currency
  • Cash of €4,013 million at June 30, 2012 was up €278 million on 2011 year end (December 2011: €3,735 million)
  • Group net debt up €160 million to €1,308 million (December 2011: €1,148 million)