IAG results out, record Q1
May 5, 2017, 4:10 am
#1
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IAG results out, record Q1
http://www.bbc.com/news/business-39815659
Revenue down 2.8%
Profit up by 10%
Share price up 5%
Revenue down 2.8%
Profit up by 10%
IAG, which also owns Aer Lingus, BA & Iberia, said underlying operating profits in the quarter rose 10% to 170m euros (£144m).
The increase came despite a 2.8% dip in group revenues to 4.9bn euros.
IAG added that bookings for its new long-haul low-cost airline called Level, which starts services in June, were "well ahead of expectations".
The increase came despite a 2.8% dip in group revenues to 4.9bn euros.
IAG added that bookings for its new long-haul low-cost airline called Level, which starts services in June, were "well ahead of expectations".
Share price up 5%
May 5, 2017, 4:28 am
#6
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May 5, 2017, 4:44 am
#9
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http://www.stockmarketwire.com/artic...e-for-IAG.html
"Group premium traffic for the month of April increased by 7.0 per cent compared to the previous year"
"Group premium traffic for the month of April increased by 7.0 per cent compared to the previous year"
May 5, 2017, 4:57 am
#12
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Not really - since this has been picked up by a few posts I'd highlight a few quotes:
The key factor given for revenues was "passenger yields decreased on leisure routes with the shift in Easter from March last year to April this year, partially offset by improvements in corporate bookings."
And for costs: "Non-fuel unit costs ... up 1.4 per cent at constant currency" so the bigger factor, not cost cutting, was "fuel unit costs down 16.1 per cent" but yes indeed "employee unit costs improved 2.6 per cent with salary awards more than offset by efficiency initiatives achieved by all airlines."
The decline in fuel prices was probably also a drag on revenue, not related to demand.
The key factor given for revenues was "passenger yields decreased on leisure routes with the shift in Easter from March last year to April this year, partially offset by improvements in corporate bookings."
And for costs: "Non-fuel unit costs ... up 1.4 per cent at constant currency" so the bigger factor, not cost cutting, was "fuel unit costs down 16.1 per cent" but yes indeed "employee unit costs improved 2.6 per cent with salary awards more than offset by efficiency initiatives achieved by all airlines."
The decline in fuel prices was probably also a drag on revenue, not related to demand.
May 5, 2017, 5:17 am
#13
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http://www.stockmarketwire.com/artic...e-for-IAG.html
"Group premium traffic for the month of April increased by 7.0 per cent compared to the previous year"
"Group premium traffic for the month of April increased by 7.0 per cent compared to the previous year"
I suspect it may have allowed them them to offer better fares to corporate accounts who will care little for a flower in a toilet when making decisions
May 5, 2017, 5:58 am
#14
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But, while it's not stated, that probably includes the reverse effect from Q1 of the shift of Easter to April. And the 4% capacity growth.
May 5, 2017, 6:12 am
#15
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So revenue and profit fell.
Sorry I am always skeptical of numbers are it's so easy to 'cook the books' these days!
Because by my books profit down 45% on Q1 last year and revenue down 5.9%.
Am I missing something here?
Or are they making the numbers 'look better than they actually are in reality'
Earnings per share down?
Sorry I am always skeptical of numbers are it's so easy to 'cook the books' these days!
Because by my books profit down 45% on Q1 last year and revenue down 5.9%.
Am I missing something here?
Or are they making the numbers 'look better than they actually are in reality'
Earnings per share down?