4 AUGUST 2014

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Article from BTNews 4 AUGUST 2014

IAG profit

British Airways owner IAG has moved into profit for the first half of the year after less than expected losses from its Spanish airline, Iberia.  The group made a pre-tax profit of £123m compared with a £140m loss a year ago.  Iberia, which has been loss-making for a number of years, made an operating loss of £75m.

BA controversially merged with Iberia to create IAG in January 2011.  Previously a partnership with KLM was rumoured but that airline is now with Air France.

In a statement Willie Walsh, Chief Executive of IAG,  said:  "This performance shows that we are making further solid progress."  IAG, headquartered on the Bath Road at Heathrow North, now employees 100 staff.  Group passenger numbers increased to 35m from 29m in the first half of 2013 but this figure now includes the successful Spanish low-cost airline Vueling which it took over in April 2013.

In the first half of 2014 British Airways made a profit of £260m.  New aircraft are arriving on a regular basis, the present fleet standing at six Airbus A380s and seven Boeing 787 Dreamliners.  BA has 19 Gatwick-based Boeing 737-400, due to be replaced by Airbus A320 series.  www.iairgroup.com

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