International Airlines Group (IAG) has reported operating profits of €805 million for the second quarter of 2017, up from €555 million in the same period last year.
The figure was achieved despite costs of around £58 million resulting from the failure of BA’s IT systems in May, which affected some 75,000 passengers and led to the cancellation of 726 flights.
Operating profits for the first six months of 2017 stand at €975 million, up 37.3 per cent on 2016’s figure of €710 million.
Announcing the results IAG’s CEO Willie Walsh said:
“We’re reporting a very strong performance in quarter 2 with an operating profit of €805 million before exceptional items which is up from €555 million last year.
“The underlying trend in unit revenue improved, benefitting partially from Easter and a weak base last year.
“Non-fuel unit costs before exceptional items are up, at constant currency. These costs include the financial impact of the power failure which affected British Airways’ customers.
“In June, Level started long-haul flights from Barcelona to four destinations. Sales continue to be well ahead of our expectations. We’ve ordered three additional aircraft and are considering other European bases for the operation.”
The group said that it expects its operating profit for 2017 to show a double digit improvement year on year, at current fuel prices and exchange rates.