8th Nov 2013 07:32
LONDON (Alliance News) - International Consolidated Airlines Group, SA, parent of British Airways PLC and Spanish airline Iberia, reported a surge in third-quarter profit after tax to 580 million euros, from 219 million euros last year.
Excluding exceptional items, profit after tax totaled 577 million euros in the recent period. Third-quarter 2013 operating profit, excluding items, amounted to 690 million euros.
Total revenue for the tri-monthly period was 5.41 billion euros, an increase from the prior-year figure of 5.06 billion euros. At constant currency, quarterly passenger unit revenue was up 6.7%, while non-fuel unit costs fell by 4.3%.
IAG said the current trading is in line with underlying recent trends. Looking ahead to 2013, the Group expects an operating profit before items of about 740 million euros.
Moving into 2014, the firm expects the driver of revenue growth to shift from yield to volume due to new British Airways route launches and the strong growth of Vueling.
Separately, IAG Group released its traffic and capacity statistics for October 2013. Monthly Group traffic, measured in Revenue Passenger Kilometres, increased by 8.9% to 16.57 billion, from 15.2 billion in October 2012; and Group capacity, measured in available seat kilometres, rose 8.0% year-on-year to 20.4 billion.
Passenger load factor for the month improved to 81.2%, a 0.9 points increase from the prior year's level. Group premium traffic for the month advanced 4.0% year-on-year, on falling capacity.
Copyright RTT News/dpa-AFX
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