IAG: second-quarter profit up, 2019 earnings to be flat
(CercleFinance.com) - British Airways-owner IAG posted a rise in quarterly profit on Friday, but said that it expected 2019 profit to be flat compared to 2018.
IAG - which also includes Spanish carrier Iberia - reported operating profit of 960 million euros before exceptional items for the second quarter, up from 900 million last year.
"Despite fuel cost headwinds, we delivered a good performance," said IAG Chief Executive Willie Walsh, noting that the company benefited from the timing of Easter this year.
The company said that it expected its 2019 operating profit before exceptional items to be in line with its pro-forma level in 2018.
Passenger unit revenue is also expected to be flat at constant currencies, IAG said.
The London-listed shares of IAG were up 3.2% after this report.
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