Continued balance sheet strengthening: Gross debt reduced by 2.4 billion euros to 17.2 billion euros at Septemversus June 30, 2023, with £2.0 billion UKEF-backed loan repaid early and 0.5 billion euros IAG bond repaid on maturity.– Fuel unit costs for the quarter were down 6.2% year on year. The majority of these additional costs were in British Airways. This was despite a c.1.0 percentage point impact from higher disruption across the business, including the UK NATS systems outage in August. – Non-fuel unit costs for the quarter were 3.5% below Q3 2022. – Passenger unit revenue increased by 2.2% year-on-year (24.6% vs 2019) due to continued strong demand from leisure travel – Capacity (ASK) increase of 17.9% on last year (95.6% of Q3 2019), with a focus over the summer on European holiday destinations and further investment across the South and North Atlantic, supported by 20 aircraft deliveries year to date Strong growth of operating profit before exceptional items in the quarter to 1,745 million euros (Q3 2022: 1,216 million euros) and an operating margin of 20.2% (Q3 2022: 16.6%) due to:.Record third quarter profit with strong trading across the IAG Group and a significantly stronger balance sheet Highlights Overall customer bookings for Q4 are as expected with around 75% of the fourth quarter’s passenger revenue already booked.
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