IAG swings to profit

IAG’s operating profit for the period was €25m an improvement of €175m from the prior year loss. British Airways made a profit of €117m (2014: €5m loss); Iberia made a loss of €55m (2014: €111 million loss) and Vueling’s loss was €29m (2014: €30m loss). Passenger revenue increased 12.3% compared to the same period last year, with 8.1 points of positive currency impacts. Passenger unit revenue (passenger revenue per ASK) was down 0.8% at constant currency from lower yields but with higher volumes. Passengers carried increased by 9.1% in the period. Passenger revenue performance in our key markets was stable and the timing of Easter had a positive impact for the Group.