News Release

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1st Quarter Results
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International Consolidated Airlines Group (IAG) today (May 9, 2014) presented Group consolidated results for the three months to March 31, 2014.

IAG period highlights on results:

  • First quarter operating loss €150 million (2013: operating loss of €278 million) before exceptional items
  • Revenue for the quarter up 6.7 per cent to €4,203 million, up 7.6 per cent at constant currency
  • Non-fuel costs up 3.8 per cent, up 4.8 per cent at constant currency
  • At constant currency, first quarter passenger unit revenue down 1.4 per cent (excluding Vueling down 0.5 per cent) and non-fuel unit costs down 6.2 per cent (excluding Vueling down 4.2 per cent)
  • Fuel unit costs for the quarter down 8.9 per cent, 7.4 per cent at constant currency
  • Cash of €4,004 million at March 31, 2014 was up €371 million on 2013 year end
  • Adjusted gearing remains at 50 per cent