IAG, the parent company of British Airways, reports a 6th months operating profit from subsidiaries Iberia and Vueling of in excess of €230 million, compared with a loss of €33 million in the same period last year.
Accordingly, British Airways operating profit of €332 million also exceeds last year’s numbers dramatically. IAG CEO Willie Walsh said; “This performance shows that we are making further solid progress.” Pointing to further “trimming” possibilities for the Winter of this year, Walsh also heralded also the largest second quarter gain for his company since before the economic crisis hit in late 2007.
As for Iberia specifically, Walsh discussed that profitable business’ cost cutting efforts as pivotal in the company’s profitability. Infrastructure and operational strategies, including upgrading aircraft, were other topical concerns for IAG. Just this morning the company announced the addition of new long-haul aircraft for Iberia. According to this news, International Airlines Group (IAG) is converting eight Airbus A350-900 aircraft options into firm orders and securing eight A330-200 aircraft for Iberia.
Currently IAG sits at 3.69 0.08 (2.12%) down as of Jul 31, 4:00 PM EDT
For more information, readers should contact IAG directly via:
IAG Investor Relations
2 World Business Centre Heathrow
Newall Road, London Heathrow Airport
HOUNSLOW TW6 2SF
Tel: +44 (0)208 564 2900
Investor.relations@iairgroup.com