International Airlines Group reports first half 2012 operating loss of €253m

International Airlines Group (IAG) reported consolidated results for the six months ended June 30, 2012. IAG reported a second quarter 2012 operating loss of €4m, before exceptional items (2011: operating profit €190m) and an operating loss for the half year of €253m before exceptional items (2011: operating profit €88m). British Airways made an operating profit, after exceptional items, of €13m in the half year to June 30, 2012 and Iberia made an operating loss of €263m. IAG reported loss before tax for the half year of €390m (2011: profit before tax of €39m). Revenue for the half year was up 9.8% to €8,532m (2011: €7,773m), including €278m or 3.6% currency impact. Fuel costs inreased 25.0% to €2,973m (2011: €2,378m before exceptional items).