IAG: shares soar on 'good set of results'
(CercleFinance.com) - IAG said it remained profitable in the first quarter, despite European airlines being hit by fuel and FX headwinds, and the timing of Easter.
The airline group - which owns British Airways and Iberia - said its operating profit for the period was 135 million euros, down 205 million euros compared to 2018.
Profit after tax fell to 70 million euros in the quarter, down 62.6%, while adjusted EPS decreased by 57.5% on a pro-forma basis.
In its statement, IAG said it expects its 2019 operating profit before exceptional items to be in line with the 2018 pro-forma level, at current fuel prices and exchange rates.
Analysts cheered a "good set of results" after the report, with the shares trading up 2.7% in London this morning.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The airline group - which owns British Airways and Iberia - said its operating profit for the period was 135 million euros, down 205 million euros compared to 2018.
Profit after tax fell to 70 million euros in the quarter, down 62.6%, while adjusted EPS decreased by 57.5% on a pro-forma basis.
In its statement, IAG said it expects its 2019 operating profit before exceptional items to be in line with the 2018 pro-forma level, at current fuel prices and exchange rates.
Analysts cheered a "good set of results" after the report, with the shares trading up 2.7% in London this morning.
Copyright (c) 2019 CercleFinance.com. All rights reserved.