International Consolidated Airlines Group (IAG) has presented Group consolidated results for second quarter and six months to June 30, 2019.
Second quarter operating profit was €960 million before exceptional items (2018 pro forma1: €900 million, 2018 statutory: €816 million), Passenger unit revenue for the quarter was up 3.1%, non-fuel unit costs before exceptional items for the quarter was up 1.6% and fuel unit costs for the quarter was up 12.4%.
Net foreign exchange operating profit impact for the quarter was favourable €8 million and operating profit before exceptional items for the half year was €1,095 million (2018 pro forma1: €1,240 million, 2018 statutory: €1,735 million), down 11.7%. The Group reported cash of €8,031 million at June 30, 2019, up €1,757 million compared to December 31, 2018 and net debt to EBITDA decreased by 0.3 to 0.9 times. Profit after tax before exceptional items was €806 million up 0.4% (down 42.8% on a statutory basis), and adjusted earnings per share was up 4.3% on a pro forma basis.
