Category Archives: Iberia

IAG reports a third quarter net profit of $751 million

International Airlines Group (IAG) (British Airways, Iberia, Iberia Express and Vueling Airlines) (London) reported a third quarter net profit of €598 million ($751 million) up 3.1% from €580 million ($728.4 million) in the same quarter a year ago.

The airline group issued this full statement:

NINE MONTHS RESULTS ANNOUNCEMENT

International Consolidated Airlines Group (IAG) presented Group consolidated results for the nine months to September 30, 2014.

IAG period highlights on results:

Third quarter operating profit €900 million (2013: €690 million) before exceptional items, €210 million better than last year
At constant currency, third quarter passenger unit revenue down 0.9 per cent and non-fuel unit costs down 4.5 per cent
Revenue for the quarter up 8.5 per cent to €5,866 million, up 6.9 per cent at constant currency
Fuel unit costs for the quarter down 7.5 per cent at constant currency
Operating profit for the nine months €1,130 million (2013: €657 million) before exceptional items, €473 million better than last year
Exceptional charge of €82 million for currency re-evaluation
Cash of €5,064 million at September 30, 2014, up €1,431 million on 2013 year end
Adjusted gearing down 4 points to 46 per centPerformance summary:


	Nine months to September 30
Financial data € million	2014	2013	Higher / (lower)
Passenger revenue	13,435	12,299	9.2 %
Total revenue	15,155	14,113	7.4 %
Operating profit before exceptional items	1,130	657
Exceptional items	(82)	(309)
Operating profit after exceptional items	1,048	348
Profit after tax and exceptional items	694	77
Basic earnings per share (€ cents)	33.4	3.2
Operating figures	2014	2013	Higher / (lower)
Available seat kilometres (ASK million)	190,234	172,234	10.5 %
Revenue passenger kilometres (RPK million)	153,537	140,220	9.5 %
Seat factor (per cent)	80.7	81.4	(0.7pts)
Passenger revenue per RPK (€ cents)	8.75	8.77	(0.2)%
Passenger unit revenue per ASK (€ cents)	7.06	7.14	(1.1)%
Non-fuel unit costs per ASK (€ cents)	5.00	5.21	(4.0)%
€ million	At September 30,	At December 31,	Higher / (lower)
€ million	2014	2013	Higher / (lower)
Cash and interest-bearing deposits	5,064	3,633	39.4 %
Adjusted net debt(1)	5,547	5,701	(2.7)%
Adjusted gearing(2)	46%	50%	(4pts)

(1) Adjusted net debt is net debt plus capitalised operating aircraft lease costs.
(2) Adjusted gearing is adjusted net debt, divided by adjusted net debt and adjusted equity.

Willie Walsh, IAG Chief Executive Officer, said:

“This quarter we are reporting an operating profit before exceptional items of €900 million. At constant currency, revenue was up 6.9 per cent with non-fuel unit costs down 4.5 per cent and fuel unit costs down 7.5 per cent.

“We continued to grow capacity efficiently and both our non-fuel and fuel unit cost performances were strong with the latter boosted by the introduction of new, more efficient aircraft into our fleet.

“British Airways made an operating profit of €607 million, compared to €477 million last year, and grew capacity while retaining its focus on cost control. Iberia’s operating profit increased to €162 million from €74 million last year highlighting its strong cost discipline combined with the continued benefits of restructuring. Vueling continued to grow, developing new bases in Italy and Belgium, with an operating profit of €140 million compared to €139 million last year.

“In the nine months, we made an operating profit of €1,130 million before exceptional items, up by €473 million from last year”.

Copyright Photo: Paul Denton/AirlinersGallery.com. Iberia improved its financial performance with labor stability which was one of the main drivers for a better financial performance of the group in the third quarter. Iberia’s Airbus A320-214 EC-MCS (msn 6244) taxies at Geneva in the new look.

British Airways:

Iberia:

Iberia Express:

Vueling Airlines:

IAG converts eight Airbus A330-200 options into firm orders for Iberia

IAG (British Airways and Iberia) (London) has decided to convert eight A330-200 options, previously announced, into firm orders for Spain’s flag carrier Iberia, which will become a new operator of the A330-200. The aircraft will be delivered from the end of 2015 and will be equipped with GE CF6 engines. Iberia’s all Airbus fleet already includes eight A330-300s.

Iberia today operates an all Airbus fleet, including 13 A319, 12 A320, 18 A321, 8 A330-300, 8 A340-300 and 17 A340-600. On August 1, 2014, the new A330s were announced alongside an order for eight Airbus A350-900 aircraft. In total they will replace 16 A340 family aircraft in Iberia’s long-haul fleet. The airline flies to more than a 100 destinations in 38 countries.

Image: Airbus.

Iberia:

Iberia’s new Airbus A321 basketball world championship logo jet

Iberia (Madrid) is promoting the basketball world championship to be played in Spain this month.

The aircraft involved is Airbus A321-213 EC-JLI (msn 2563).

Video: Iberia.

Iberia:

Iberia celebrates 60 years of flying to New York

Iberia (Madrid) this week is celebrating the 60th anniversary of its first flight from Madrid to New York and return on August 3, 1954 on a 74-seat Lockheed 1049E Super Constellation. Five days later, on August 8, 1954, Iberia started regular service with three roundtrips a week between the two cities.

Today, 60 years later, Iberia serves the route with 17 roundtrips a week mainly flown with Airbus A340-600s and A330-300s.

Iberia:

Video: Iberia.

IAG has its best second quarter since 2007

International Airlines Group (IAG) (British Airways, Iberia and Vueling Airlines) (London) reported second quarter net income of €280 million ($376 million) up from €127 million ($170.5 million) net income for the same period a year ago. This is the best second quarter results since 2007.

Read the full report: CLICK HERE

Copyright Photo: Tony Storck/AirlinersGallery.com. Boeing 767-336 ER G-BNWD (msn 24336) of British Airways arrives at Baltimore/Washington.

British Airways:

Iberia:

Vueling Airlines:

Iberia to add Airbus A330-200s and A350-900s to replace the A340s

Iberia (Iberia) will be getting new additional long-range aircraft to replace its older Airbus A340s. Parent IAG has made this announcement:

International Airlines Group (IAG) is converting eight Airbus A350-900 aircraft options into firm orders and securing eight A330-200 aircraft for Iberia.

These aircraft will replace 16 Airbus A340 family aircraft in Iberia’s long-haul fleet and will be delivered between 2015 and 2020.

Willie Walsh, IAG chief executive, said: “Iberia has taken significant steps to restructure its business and the progress made so far means that we can bring new longhaul aircraft into the airline’s fleet. These orders demonstrate our commitment to make Iberia competitive.

“Both aircraft will provide cost efficiencies and environmental benefits, enabling Iberia to replace its long haul fleet with modern and fuel efficient aircraft. The new technology and improved aerodynamics will lower fuel burn and CO2 emissions per seat by 18 per cent, as well as providing both noise and NOx performance advantages.

“Retaining an all Airbus long-haul fleet will also generate cost savings in maintenance and crewing”.

IAG secured commercial terms for the A350 aircraft as part of the Group long-haul order announced in April 2013.

The eight A330 aircraft will be obtained either by converting existing options from the 2011 Airbus order or from the operating lease market, depending on financial and delivery terms.

Image: Airbus/IAG.

Iberia:

Iberia resumes flights to Istanbul

Iberia (Madrid) on June 20 resumed daily flights between its Madrid hub and Istanbul, Turkey. The restored route will now operate with Airbus A320s, with Business and Economy sections.

Iberia has also announced it is restoring IB service to Amsterdam, Athens and Stockholm in Europe, and to Montevideo in Uruguay and Santo Domingo in the Dominican Republic starting on September 1.

Copyright Photo: Paul Denton/AirlinersGallery.com. Airbus A320-214 EC-IZR (msn 2242) in the Oneworld color scheme completes its final approach to the runway at the Madrid (Barajas) hub.

Iberia:

Iberia resumes summer services to Croatia

Iberia (Madrid) resumed its summer services to Croatia on June 9 with a Madrid-Dubrovnik flight, which will operate Mondays, Thursdays, Saturdays and Sundays until September 29.

Flights to the Croatian capital of Zagreb, will be resumed on Saturday, June 14. Airbus A320-family aircraft with 172 seats will be used on the Saturday and Sunday return flights from Madrid.

On July 19 Iberia’s franchise partner Iberia Regional/Air Nostrum will resume thrice-weekly services to the Croatian city of Split, flying Wednesdays, Thursdays, and Saturdays until August 30.

Copyright Photo: Javier Rodriguez/AirlinersGallery.com. Iberia’s Airbus A321-213 EC-JGS (msn 2472) in the new look taxies at the Madrid hub.

Video: Repainting an Airbus:

Iberia:

Iberia paints its Airbus A330-302 EC-LYF for the FIFA World Cup

Iberia (Madrid) in advance of the upcoming 2014 FIFA World Cup in Brazil, has painted its Airbus A330-302 EC-LYF (msn 1437) in this special livery. The A330 will transport the Spanish team and soccer fans to Brazil.

The inscription across the aircraft translates as “carry the illusion of an entire country”.

Image: Iberia.

Iberia:

Video: The painting of EC-LYF:

IAG reduces its first quarter loss to $206.3 million

International Consolidated Airlines Group (IAG) (British Airways, Iberia and Vueling Airlines) (London) today (May 9, 2014) presented Group consolidated results for the first quarter and the three months to March 31, 2014.

IAG period highlights on results:

. First quarter operating loss €150 million ($206.3 million) (2013: operating loss of €278 million – $382.3 million) before exceptional items
. Revenue for the quarter up 6.7 per cent to €4,203 million, up 7.6 per cent at constant currency
. Non-fuel costs up 3.8 per cent, up 4.8 per cent at constant currency
. At constant currency, first quarter passenger unit revenue down 1.4 per cent (excluding Vueling down 0.5 per cent) and non-fuel unit costs down 6.2 per cent (excluding Vueling down 4.2 per cent)
. Fuel unit costs for the quarter down 8.9 per cent, 7.4 per cent at constant currency
. Cash of €4,004 million at March 31, 2014 was up €371 million on 2013 year end
. Adjusted gearing remains at 50 per cent

Willie Walsh, IAG Chief Executive Officer, said:

“We’re pleased that our quarterly operating loss has reduced significantly from €278 million last year to €150 million, especially as Vueling’s quarterly losses were not included last year as they weren’t in the Group. At constant currency, revenue was up 7.6 per cent and non-fuel costs rose 4.8 per cent.

“Iberia has almost halved its losses from quarter one last year with an operating loss of €111 million compared to €202 million. The airline continues to benefit from restructuring and these figures don’t reflect the impact of recent pay and productivity agreements which took effect in April. While the restructuring remains work in progress, Iberia is gradually resuming some routes including longhaul services to Santo Domingo and Montevideo.

“British Airways made an operating loss of €5 million in the quarter, compared to a €72 million operating loss in 2013. The airline has increased capacity within a controlled cost environment and benefited from the efficiency of its new Airbus A380 and Boeing 787 aircraft.

“Vueling made an operating loss of €30 million and has managed to keep its losses flat while growing capacity. The airline continues to grow with its main focus in southern Europe”.

Copyright Photo: Antony J. Best/AirlinersGallery.com. British Airways’ Airbus A380-841 G-XLEB (msn 121) approaches the runway at London’s Heathrow Airport.

British Airways: