IAG 9-month Profit Rises

International Consolidated Airlines Group (IAG.L, BAIRY.PK, BAY.L) reported nine-month profit of 2.51 billion euros compared to 1.60 billion euros, previous year. Basic earnings per share was 121.9 euro cents, up 61.8%. Operating profit before exceptional items for the nine months period was 2.575 billion euros compared to 2.40 billion euros, up 7.3 percent. Adjusted earnings per share was 91.9 euro cents, an increase of 12.5% from previous year.

For the nine month period, total revenue was 18.35 billion euros, an increase of 5.1% over previous year. Passenger revenue increased 5.3 percent versus last year, excluding currency up 8.4 percent. Passenger unit revenue increased 2.7 percent at constant currency.

For the third-quarter, operating profit was 1.46 billion euros before exceptional items, up from 1.45 billion euros, last year. Third-quarter total revenue was 7.14 billion euros, an increase of 8.5% over previous year. Passenger unit revenue for the quarter was up 1.3 percent, up 2.4 percent at constant currency

At current fuel prices and exchange rates, IAG expects its operating profit before exceptional items for 2018 to show an increase of around 200 million euros from a base of 2.95 billion euros in 2017. Both passenger unit revenue and non-fuel unit costs are expected to improve at constant currency for the full year.

An interim dividend of 14.5 euro cents per share was proposed and approved by the Board of Directors on October 25, 2018. It is payable from December 3, 2018 to shareholders on the register at November 30, 2018.