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Article from BTNews 2 NOVEMBER 2015

IAG to pay first dividend

An operating profit of €1,250m before exceptional items for the third quarter of 2015, up from €900m last year, was reported last week by IAG. Revenue was up by 15.2% to €6,756m.

Willie Walsh, CEO, also announced the airline group’s first dividend payment at €0.10 per share. It is the first time former BA shareholders have received a dividend since IAG was created in January 2011.

Walsh added: “For the full year, we expect to pay out 25% of our underlying profit after tax in dividends and plan to announce a proposal for a final dividend for 2015 when the full-year results are published.”

The CEO said all the group’s airlines, which also include Iberia and Vueling, had made a positive contribution, but singled out Aer Lingus, which he said contributed an operating profit of €45m since it joined IAG on 18 August. 

“While the airline’s profitability is seasonal, Aer Lingus is cost-effective and provides a natural gateway to build our business between Europe and North America. It’s a great asset for the group,” he added.

On trading outlook, Walsh said at current fuel prices and exchange rates, IAG expects to generate an operating profit between €2.25bn – €2.3bn for the full year, excluding Aer Lingus.  www.iairgroup.com

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