IAG (International Airlines Group) parent company of Aer Lingus, British Airways, Iberia and Vueling—reported a 51.5% rise in 2015 net profit to €1.52 billion ($1.66 billion), compared to €1 billion in 2014. Full-year revenue was up 13.3% at €22.8 billion compared to €20.1 billion last time.

In capacity, ASKs rose 8.2% to 272.7 billion (of which 3.2% came from the inclusion of the Aer Lingus fleet) and load factor rose 1% to 81.4%, while RASKs rose 5.4% to 7.46 euro cents. Passenger numbers were up 14.2% at 88.3 million compared to 77.3 million last time.

Fuel costs for the year before exceptional items dropped 6.3%, while non-fuel costs before exceptional items were up 4.3%.

“We’re reporting very strong full year results,” IAG CEO Willie Walsh said. “These results are in line with our recent target and have exceeded our original 2015 operating profit target of €1.5 billion that we set in 2011.

“It’s undoubtedly been a good year, but it’s also been challenging, with extreme volatility in the currency and fuel markets. The benefits we gained from lower fuel prices have been partially offset by the stronger US dollar.”

IAG completed the acquisition of Aer Lingus over the summer and Walsh—a former Aer Lingus CEO—said the Irish flag carrier had made a positive contribution of €35 million since it formally joined the group on Aug. 18, 2015.

IAG said that Iberia, which for the early years of the consortium was a notable drag on the group, had made “significant progress on its “Plan de Futuro,” improving its cost base and recovering routes previously withdrawn. The turnaround of Iberia is leading to a profitable and efficient new airline capable of growing in its strategic markets and starting to achieve positive returns for the Group, with a positive after-tax profit of €155 million.”

In 2016, IAG anticipates it will generate an absolute operating profit increase similar to that in 2015, when it leapt 68% before exceptional items. Revenue trends for 1Q 2016 “appear broadly in line with those experienced in quarter four 2015.”

Source: atwonline.com/flytobarcelona/ 2016-02-26

Posted by flytobarcelona.org

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