IAG first 1H net profit rises 2.3%
IAG has reported a first-half net income of E567m (US$664m), up 2.3% from a E554m profit in the year-ago period, despite strikes and major operational disruption from a power outage. “We’re reporting a very strong performance in Q2, with an operating profit of E805m (before exceptional items), which is up from E555m last year. The underlying trend in unit revenue improved, benefitting partially from Easter and a weak base last year,” IAG CE Willie Walsh said. The exceptional items totaled a E77m hit, compared with a E79m prior-year gain. IAG said these charges were mainly related to severance payments at British Airways, which has also provisioned E65m for compensation and baggage claims from the power failure. IAG said the results marked the group’s strongest quarterly improvement since 2014 <br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-07-31/oneworld/iag-first-1h-net-profit-rises-2-3
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IAG first 1H net profit rises 2.3%
IAG has reported a first-half net income of E567m (US$664m), up 2.3% from a E554m profit in the year-ago period, despite strikes and major operational disruption from a power outage. “We’re reporting a very strong performance in Q2, with an operating profit of E805m (before exceptional items), which is up from E555m last year. The underlying trend in unit revenue improved, benefitting partially from Easter and a weak base last year,” IAG CE Willie Walsh said. The exceptional items totaled a E77m hit, compared with a E79m prior-year gain. IAG said these charges were mainly related to severance payments at British Airways, which has also provisioned E65m for compensation and baggage claims from the power failure. IAG said the results marked the group’s strongest quarterly improvement since 2014 <br/>
