IAG expects rise in 2018 profit
IAG is forecasting a rise in 2018 profit after reporting a strong second quarter, despite the impact of French ATC strikes.
Chief executive Willie Walsh said: "We’re reporting another good set of results in quarter two with an operating profit of €835 million before exceptional items, up from €790 million last year.~~~~~~~~~~~~
"There was a strong performance in both unit revenue and costs. At constant currency, our passenger unit revenue increased by 2.3 per cent while non-fuel unit costs went down 2.0 per cent.
"Unfortunately, French Air Traffic Control strikes continued to challenge our airlines’ operations causing disruption to our customers. Vueling was particularly affected and incurred an additional €20 million of disruption costs in the quarter. These strikes are also having a significant negative impact on the Spanish economy and tourism."
Looking forward, IAG said at current fuel prices and exchange rates, IAG still expects its operating profit for 2018 to show an increase year-on-year.
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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