International Consolidated Airlines Group has presented its consolidated results for 2012, which show that, before exceptional items, British Airways made an operating profit of €347 million while Iberia made an operating loss of €351 million.
The operating loss for the year to 31st December 2012 was €23 million before exceptional items (2011: operating profit €485 million). After exceptional items operating loss for the year not including Iberia restructuring and impairment was €68 million, compared to IAG’s guidance in November of €120 million.
Revenue for the year was up 10.9% to €18,117 million (2011: €16,339 million), including €872 million or 5.4% currency impact. Passenger unit revenue for the year was up 9.4%, on top of volume increases of 2.8%.
