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IAG welcomes 'record' first quarter operating profit

Air
Tom Parry
5 May 2017

International Airlines Group has reported a “record” first quarter with an improved operating profit of €170 million.

Willie Walsh

The British Airways parent saw a year-on-year increase of €15 million for the three months to March 31 - a period which is traditionally the group’s weakest quarter of the year.

Chief executive Willie Walsh said the launch of low cost long-haul carrier Level had been “extremely successful” with sales running ahead of expectations.

The group which also owns Aer Lingus, Iberia and Vueling, expects its operating profit for 2017 to show a year-on-year improvement when plotted against current fuel prices and exchange rates.

Its passenger unit revenue for the quarter fell by 7.2%, down 3.1% at constant currency.