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British Airways owner says profits hit by weak pound and strikes

Air
Jennifer Morris
28 October 2016

British Airways owner International Airlines Group (IAG) has seen its profits hit by the weak pound and air traffic control strikes.

"People should not be using furlough to cynically keep people on their books and then get rid of them," he told MPs

IAG said operating profits had fallen by 3.5% to £1.08 billion in the three months to the end of September, while revenue before exceptional items was down by 4% to £5.2 billion.

Willie Walsh, IAG chief executive, said: "We’re reporting a strong quarter three operating profit before exceptional items of €1,205 million.

"While strong, these results were affected by a tough operating environment with a very significant negative currency impact of €162 million, primarily due to sterling weakness, and continued disruption due to air traffic control strikes.