IAG on Friday (10 May) posted first quarter (Q1) operating profit of €135 million (£117 million), down 60% on Q1 2018 when it achieved €340 million (£293 million).
Fuel unit costs for the quarter, meanwhile, increased 15.8% year-on-year, while IAG’s operating profit suffered a €61 million (£53 million) hit from foreign exchange.
Willie Walsh, IAG chief executive, said: “In a quarter when European airlines were significantly affected by fuel and foreign exchange headwinds, market capacity impacting yield and the timing of Easter, we remained profitable and are reporting an operating profit of €135 million.
