Iberia posts 2007 net earning of 327.6 million euros

Iberia closed 2007 with net earnings of 327.6 million euros, making it one of the best years in company history. Pre-tax profits came to 446.4 million euros, 170.3% above those of 2006. This performance gave the Spanish airline its twelfth consecutive profitable year.

Iberia posted 2007 operating earnings of 283.5 million euros, up by 161.6 million for the year, providing an operating earnings margin of 5.1%, which was 2.9 points higher than that of 2006.

The EBITDAR for the full year came to 932 million euros, for a gain of nearly 18% against 2006. The margin of EBITDAR over income reached almost 16.9%, 2.2 points higher than the previous year.

Operating income rose by 2.5% to 5.52 billion euros. Passenger and freight income supplied 84% of this amount, or 4.62 billion euros. Income from maintenance services for third customers rose by almost 25% to 273.6 million euros.

Despite successive fuel price hikes in 2007, operating costs eased by 0.5% to 5.238 billion. The unit cost per ASK (available seat kilometre) was also 1.5% lower, thanks to cost-cutting policies in the multi-year strategic plan, and the depreciation of the U.S. dollar.

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