IAG: 1st Quarter 2013 Results

International Consolidated Airlines Group (IAG) today (May 10, 2013) presented Group consolidated results for the three months to March 31, 2013.

IAG period highlights:
First quarter operating loss of €278 million, before exceptional items (2012: €249 million loss)
There was an exceptional charge of €311 million in the quarter, principally relating to restructuring at Iberia (2012: €37 million exceptional credit)
Revenue for the quarter up 0.5 per cent to €3,939 million (2012: €3,919 million), including €46 million or 1.2 per cent of unfavourable currency impact. Passenger unit revenue for the quarter up 3.9 per cent (5.3 per cent at constant currency), on capacity decreases of 2.1 per cent
Fuel costs for the quarter down 3.4 per cent to €1,361 million (2012: €1,409 million). Fuel unit costs were down 1.5 per cent
Non-fuel costs before exceptional items for the quarter up 3.5 per cent at €2,856 million, including €24 million or 0.9 per cent of adverse currency impact. Non-fuel unit costs up 5.8 per cent, or 4.9 per cent at constant currency
Cash of €2,833 million at quarter end was down €76 million and Group net debt down €157 million in the quarter to €1,732 million