27 FEBRUARY 2017
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Figures published by IAG show how reliant the group is on BA to make a realistic profit.
Six full years after the airline group was controversially created by the amalgamation of British Airways and Iberia the annual figures published last week notes that of the €2.4bn operating profit €1.7bn comes from the UK carrier with the Spanish operator contributing just €271m and the much smaller Aer Lingus not far behind with €233m. Vueling, a low-cost Spanish carrier and part of the Group, had a profit of €60m.
Willie Walsh, IAG's chief executive, said: "It was a good performance in a challenging environment. The fall in the value of the pound last year cost €460m”.
IAG recently closed Heathrow Bath Road headquarters and moved into the BA Waterside building. It is planning to start low-cost transatlantic flights from Barcelona this year to destinations in the US but the move by Norwegian (see in this issue) may require a rethink.
Citing the results UNITE the cabin staff trade union has called for another British Airways strike from 00:01 Friday 3March to 23:59 on Thursday 9 March.
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