BA parent International Consolidated Airlines Group has reported “strong” third-quarter trading despite a financial hit from rising fuel costs and foreign exchange.
The group, which also includes Iberia, reported results for the nine months to September 30 this morning.
Third quarter operating profit was €1,460 million before exceptional items up from €1,450 million I 2017.
Net foreign exchange operating profit impact for the quarter was €111 million and passenger unit revenue for the quarter was up 1.3%, 2.4% at constant currency
Non-fuel unit costs before exceptional items for the quarter were up 0.5%, down 0.7% at constant currency.
Fuel unit costs for the quarter were up 14.3%, 15.0% at constant currency
Operating profit before exceptional items for the nine month period stood at €2,575 million, up 7.3 per cent.
Willie Walsh, IAG Chief Executive Officer, said: “We’re reporting a good quarter 3 performance with an operating profit of €1,460 million before exceptional items, up from €1,450 million last year.
“These were strong results despite significant fuel cost and foreign exchange headwinds. At constant currency, our passenger unit revenue increased by 2.4% while non-fuel unit costs went down 0.7%.
“We’re pleased to announce an interim dividend of 14.5 euro cents per share and this week we completed our second €500 million share buy-back programme”.
More: IAG needs Brexit deal to stay within EU rules
BA reveals data breach affected more customers than previously reported