IAG boosts profit despite currency weakness
IAG released its full-year results for 2016, showing a 29% rise in net profit to E1.95b (US$2.06b). Operating profit before exceptional items for the year to end Dec 2016 came in at E2.53b, an 8.6% rise on 2015. Total revenue was E22.57b, a 1.3% dip, but operating costs were also down at E20.08b, a 2.4% improvement. Fuel unit costs before exceptional items were down 26.8%. IAG CE Willie Walsh said it “was a good performance in a challenging environment,” but it was “affected by an adverse currency impact of E460m. In particular, this was due to the weak pound following the UK's EU referendum.” IAG carried 100.6m passengers, the first time it has surpassed 100m. It was also the first full year of Aer Lingus contributing to the number after joining the group in Aug 2015. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-02-27/oneworld/iag-boosts-profit-despite-currency-weakness
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IAG boosts profit despite currency weakness
IAG released its full-year results for 2016, showing a 29% rise in net profit to E1.95b (US$2.06b). Operating profit before exceptional items for the year to end Dec 2016 came in at E2.53b, an 8.6% rise on 2015. Total revenue was E22.57b, a 1.3% dip, but operating costs were also down at E20.08b, a 2.4% improvement. Fuel unit costs before exceptional items were down 26.8%. IAG CE Willie Walsh said it “was a good performance in a challenging environment,” but it was “affected by an adverse currency impact of E460m. In particular, this was due to the weak pound following the UK's EU referendum.” IAG carried 100.6m passengers, the first time it has surpassed 100m. It was also the first full year of Aer Lingus contributing to the number after joining the group in Aug 2015. <br/>
