The airline holding company, International Consolidated Airlines Group S.A. (IAG.L), announced that their first-quarter after-tax loss was significantly reduced to 4 million euros, from last year's loss of 87 million euros. Basic loss per share also decreased to 0.1 euro cents from last year's loss of 1.8 euro cents.
However, when adjusted for certain items, the company's after-tax losses were 93 million euros or 1.9 euro cents per share, almost on par with last year's losses of 87 million euros or 1.8 euro cents per share.
The operating profit for the company climbed to 68 million euros from a meager 9 million euros last year. This figure stayed the same even after adjustments. Subsequently, the operating margin, before accounting for exceptional items, also rose to 1.1 percent from last year's 0.2 percent.
The total revenue for this period increased to 6.43 billion euros from the previous year's 5.89 billion euros. The company also reported that passenger revenue per available seat kilometer(ASK) for the first quarter was 4.4 percent higher than last year.
IAG attributes this remarkable first quarter to the robust demand for travel. Looking ahead, the company anticipates a positive, sustainable demand for the long term and is well-prepared for the approaching summer season. The company's full-year capacity plans aim for a 7 percent ASK growth with core market investments.
