LHRFlyer From United Kingdom, joined Apr 2010, 776 posts, RR: 1 Reply 2, posted (1 year 9 months 3 weeks 3 days 17 hours ago) and read 3232 times:
A good overall set of results. However, the divergence in peformance of Iberia and BA is stark. BA reported an operating profit of £518m, Iberia a loss of 98m Euros. Some way to go to improve peformance in Iberia which will, I'm sure, happen in the medium term.
r2rho From Germany, joined Feb 2007, 2448 posts, RR: 1 Reply 5, posted (1 year 9 months 3 weeks 3 days 11 hours ago) and read 2741 times:
Very good results for IAG, despite the economic crisis and 30% higher fuel costs they have still managed to post a very healthy profit.
· Fourth quarter operating profit of €34 million, before exceptional items (2010: €6 million)
· Operating profit for the year to December 31, 2011 of €485 million, before exceptional items (2010: €225 million)
· Profit before tax for the year of €503 million after exceptional items (2010: €84 million)
· Revenue for the year up 10.4 per cent to €16,339 million (2010: €14,798 million), including €317 million or 2.1 per cent of adverse currency impact
· Passenger unit revenue for the year up 3.6 per cent (5.8 per cent at constant currency), on top of capacity increases of 7.1 per cent
· Fuel costs for the year up 29.7 per cent to €5,068 million, before exceptional items (2010: €3,907 million), fuel unit costs were up 21.4 per cent
· Other operating costs up 1.1 per cent at €10,786 million, before exceptional items, including €165 million or 1.5 per cent of favourable currency impact. Non-fuel unit costs down 5.6 per cent, or 4.1 per cent at constant currency
· Cash down €617 million for the year to €3,735 million
· Group net debt up €253 million in the year to €1,148 million
IB has been consistently profitable for a long time in the past but is now going through a rough period (extremely hard crisis in Spain), and transforming and restructuring its operations. The new IB Express will make its shorthaul profitable again, and those A333s to replace the A343s can't come soon enough. It will be back in the black soon, I have no doubt.
scouseflyer From United Kingdom, joined Apr 2006, 3317 posts, RR: 10 Reply 6, posted (1 year 9 months 3 weeks 3 days 11 hours ago) and read 2724 times:
Another snippet from the presentation, Ibesria express will start with 4 A320s transfered from Iberia mainline and will have 40 A320s by 2015 - I think that some more narrow bodies will be ordered soon.
Polot From United States of America, joined Jul 2011, 1893 posts, RR: 0 Reply 7, posted (1 year 9 months 3 weeks 3 days 11 hours ago) and read 2694 times:
Quoting scouseflyer (Reply 6): Another snippet from the presentation, Ibesria express will start with 4 A320s transfered from Iberia mainline and will have 40 A320s by 2015 - I think that some more narrow bodies will be ordered soon.
Do they mean A320s specifically or 40 A32Xs? If the later then I have a feeling the 36 additional planes will also come from IB rather than a new order.
LHRFlyer From United Kingdom, joined Apr 2010, 776 posts, RR: 1 Reply 12, posted (1 year 9 months 3 weeks 2 days 14 hours ago) and read 1572 times:
Quoting PezySPU (Reply 11): "Walsh says IAG does not have any plans for further acquisitions right now. “You can ignore anything you can read in the press,” he told analysts in a conference call."
So I guess TP is in safe hands of LH for now...
I think that's more of a reference to AA and Kingfisher.
If the privatisation process for TAP ever gets underway (for IAG the delay is actually helpful given what it has on its plate at the moment), IAG will at least have a look at the books. They would be negligent not to do so.