IAG reports three months results

International Consolidated Airlines Group (IAG) has posted its Group consolidated results for the three months to March 31, 2018.

IAG reported first quarter operating profit of €280m before exceptional items (2017 restated €160m), net foreign exchange operating profit impact for the quarter favourable €58m.

The passenger unit revenue for the quarter was down 0.7%, up 3.5% at constant currency. Non-fuel unit costs before exceptional items for the quarterwas down 5.7%, down 0.9% at constant currency.

Fuel unit costs for the quarter was up 0.%, up 10.4% at constant currency. Cash of €7,442m at March 31, 2018 was down €53m on March 31, 2017 and adjusted net debt to EBITDAR improved by 0.3 to 1.2 times.

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