IAG: shares up after another strong quarter
(CercleFinance.com) - IAG reported "another strong quarter performance" on Friday, with first-quarter operating profit of 280 million euros, up from 160 million euros last year.
The owner of British Airways and Iberia said that its positive passenger unit revenue trend continued with an increase of 3.5% at constant currencies, with the early timing of Easter this year.
Separately, non-fuel unit costs dropped 0.9% at constant currencies, while fuel unit costs have increased by just 0.6%, despite the strong rise in oil prices.
At current fuel prices and exchange rates, IAG still expects its 2018 operating profit to increase year-on-year.
Both passenger unit revenue and non-fuel unit costs are expected to improve at constant currencies, the group said, which has sent its shares 4.6% higher in London today.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The owner of British Airways and Iberia said that its positive passenger unit revenue trend continued with an increase of 3.5% at constant currencies, with the early timing of Easter this year.
Separately, non-fuel unit costs dropped 0.9% at constant currencies, while fuel unit costs have increased by just 0.6%, despite the strong rise in oil prices.
At current fuel prices and exchange rates, IAG still expects its 2018 operating profit to increase year-on-year.
Both passenger unit revenue and non-fuel unit costs are expected to improve at constant currencies, the group said, which has sent its shares 4.6% higher in London today.
Copyright (c) 2018 CercleFinance.com. All rights reserved.