Jump to content

[INGLÊS] IAG mostra recuperação, destaque para a Iberia


Recommended Posts

IAG lifts third-quarter operating profits to €900m
By: OLIVER CLARK LONDON 07:50 31 Oct 2014
IAG has turned an operating profit of €900 million ($1.13 billion) for the third quarter, ending 30 September, compared with €690 million in the same period last year.
It achieved the results on the back of a strong performance from all three of its carriers: British Airways, Iberia and Vueling.
British Airways made an operating profit in the period of €607 million, up from €477 million in the same period last year.
Iberia's operating profit increased to €162 million from €74 million, while Vueling reported an operating profit of €140 million, slightly ahead of the €139 million it made last year.
IAG’s combined revenues for the quarter rose 8.5% to €5.86 billion while the non-fuel unit costs were down 4.5% and fuel unit costs were down 7.5%.
For the first nine months of the year, IAG reported an operating profit of €1.13 billion. Revenues rose 7.5% to €15.1 billion while costs rose 4.2% to €14 billion.
IAG is forecasting an operating profit for 2014, before exceptional items, of €1.32-1.37 billion.
IAG boosts cash position
IAG added €1.32 billion ($1.66 billion) to its cash balance in the last 12 months ended 30 September, on the back of a solid performance across its three airline divisions.
The group's cash position reached €5.06 billion, up from €3.74 billion at 30 September 2013.
At 30 September 2014, British Airways' cash position was €3.16 billion, Iberia's €931 million, Vueling's €751 million, and that of the remaining IAG companies €226 million.
In the third quarter alone, Iberian generated approximately €100 million in cash, while BA and Vueling maintained their balances.
Since the beginning of this year, Iberia has improved its position by €200 million while Vueling's cash balance is up €300 million. BA's has risen £600 million ($959 million).
At 30 September 2013, the group's cash balance comprised €2.2 billion held by BA plus Iberia's €689 million, Vueling's €591 million and other IAG units' €258 million.
Adjusted net debt totalled €5.55 billion at 30 September 2014, a €154 million decrease since the beginning of the year but a €295 million increase from the end of 2013's third quarter.
Iberia the 'star performer' for IAG: Walsh
By: OLIVER CLARK LONDON 12:36 31 Oct 2014
IAG chief executive Willie Walsh hails Iberia as the group's "star performer" in the third quarter, with the Spanish carrier having reduced labour costs and generated an improved operating profit.
While that €162 million ($204 million) operating profit had been "anticipated on the back of the restructuring" programme under way, it was "great to see [the] underlying financial performance of Iberia being as strong as it is", Walsh told analysts today.
"Iberia has been improving to reach best in class in the group," adds IAG finance chief Enrique Dupuy, pointing to a 10% reduction in employee cost per available seat-kilometre in the quarter – and an increase of nearly seven percentage points in operating margin, to 13.1%.
IAG is beginning to see "some improvement in underlying commercial performance" at Iberia, Walsh says, adding that the brand is now once again "very strong" in Spain. But he affirms that the main opportunity to improve Iberia's performance in the future "remains on cost" rather than new commercial initiatives.
On the subject of further voluntary redundancies at the Spanish national carrier, Walsh would not be drawn on numbers. However, he says there is a "growing appetite" among "high-cost employees" to choose this option, which should help reduce Iberia's labour unit costs in the future.
Iberia and BA will grow capacity 4.1% in the fourth quarter, and 5.2% over the whole of 2014. Citing resumption of long-haul routes such as Montevideo and Santo Domingo and of short-haul services to Amsterdam, Istanbul and Stockholm, Dupuy says Iberia is returning to markets where it "knows the customer profile".
Walsh says that on short-haul markets, Iberia Express has proved to be a "fantastic vehicle" for the Spanish carrier to return to previously served markets with reduced costs.





Link to comment
Share on other sites


This topic is now archived and is closed to further replies.

  • Create New...

Important Information

Saiba os termos, regras e políticas de privacidade