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SIX MONTHS RESULTS ANNOUNCEMENT
International Consolidated Airlines Group (IAG) today (July 31, 2015) presented Group consolidated results for the six months to June 30, 2015.
Willie Walsh, IAG Chief Executive Officer, said:
“We made an operating profit of €530 million in the quarter, up from a €380 million operating profit last year.
“At constant currency, revenue was down 1.2 per cent with passenger unit revenue down 6.6 per cent. Non-fuel unit costs were down 6.9 per cent while fuel unit costs were down 12 per cent.
“We said previously that profit improvement would be slower in the second quarter and we are on track to reach our full year targets.
“We continue to take cost out of the business, with both employee and supplier unit costs down at constant currency, and improvements in productivity levels.
“In the half year, we made an operating profit of €555 million which is up from a €230 million operating profit last year”.
At current fuel prices and exchange rates our outlook remains unchanged. IAG expects in 2015 to generate an operating profit in excess of €2.2 billion.
Forward-looking statements can typically be identified by the use of forward-looking terminology, such as “expects”, “may”, “will”, “could”, “should”, “intends”, “plans”, “predicts”, “envisages” or “anticipates” and include, without limitation, any projections relating to results of operations and financial conditions of International Consolidated Airlines Group S.A. and its subsidiary undertakings from time to time (the ‘Group’), as well as plans and objectives for future operations, expected future revenues, financing plans, expected expenditures and divestments relating to the Group and discussions of the Group’s Business plan. All forward-looking statements in this report are based upon information known to the Group on the date of this report. The Group undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
It is not reasonably possible to itemise all of the many factors and specific events that could cause the forward-looking statements in this report to be incorrect or that could otherwise have a material adverse effect on the future operations or results of an airline operating in the global economy. Further information on the primary risks of the business and the risk management process of the Group is given in the Annual Report and Accounts 2014; these documents are available on www.iagshares.com.
IAG Investor Relations
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