in Aviation

BA's profits up 300m as parent IAG posts losses of 860m

Posted 1 March 2013 · Add Comment

British Airways' parent, International Consolidated Airlines Group (IAG), yesterday presented Group consolidated results for the year to 31 December, 2012, showing an operating loss of 997m (£860m), whilst BA itself made an operating profit of 347m (£300m).


 
Operating loss for the year to December 31, 2012 of €23 million before exceptional items (2011: operating profit €485 million). After exceptional items operating loss for the year - not including Iberia restructuring and impairment - was €68 million.

Before exceptional items, British Airways made an operating profit of €347 million for the year but Iberia - which made an operating loss of €351 million - dragged IAG's overall profits down. IAG's non-operating charges for the year were €384 million, including €266 million related to non-cash pensions accounting requirements.

Loss before tax for the year of €997 million  (2011: profit before tax of €503 million) including restructuring charge of €202 million for the Iberia transformation plan and €343 million impairment of Iberia intangible assets.

Revenue for the year was up 10.9% to €18,117 million (2011: €16,339 million), including €872 million or 5.4% currency impact. Passenger unit revenue for the year up 9.4%, on top of volume increases of 2.8%.

Capital investment of €1,239 million (2011: €1,071 million) including over €400 million on pre-delivery payments for future aircraft.

Cash of €2,909 million at December 31, 2012 was down €826 million on 2011 year end (December 2011: €3,735 million). Group net debt up €741 million to €1,889 million (December 2011: €1,148 million).
 

* required field

Post a comment

Other Stories
Advertisement
Latest News

HGL moves into machining

The Harlow Group (HGL) has added a machining centre to complement its fabrication service which can produce high quality, precision products for the aerospace, medical, marine, communication and associated industries.

Peli to showcase ATEX lights at CNSP

Peli Products will be showcasing its high performance ATEX certified lights at the Congrès National des Sapeurs Pompiers (CNSP).

Rolls-Royce wins $1.5bn Trent 700 order from China Eastern Airlines

Rolls-Royce has won a $1.5bn order from China Eastern Airlines for Trent 700 engines to power 15 A330 aircraft, which includes long-term TotalCare engine support services.

World Routes heading for Chengdu

One of the rising stars of the Chinese economy, the emerging city of Chengdu, will move closer towards its ambition of becoming the main transport hub for western China when it hosts the World Routes aviation forum next month (24-27

A400M completes sand runway tests

Airbus Defence and Space has successfully demonstrated the capability of the A400M new generation airlifter to operate on a sand runway the last of three unprepared types of surface on which it will be certified.

EASA rules for non-commercial air ops come into effect

Today, EASA rules addressing non-commercial air operations with aeroplanes and helicopters will come into effect in all 32 EASA states.

Rubb Buildings SK22811016 ADS Advance
See us at
SMI Defence Exports BT 6wks16ADS - security&policing BT1889317UAV Technology Eastern Europe ADSAdvance BT 6wks16Aviation Africa 2017 BT 23F17Aerospace Vehicles BT26M8S16