British Airways has announced a solid set of financial results, helped by a strong cost performance. The airline’s priorities for the second quarter remain the same: delivering great service, a punctual operation and keeping up the good work on costs. 

BA headlines                                                      IAG headlines

Operating profit £323m (2014: £273m operating profit) IAG €530m operating profit  (2014: €380m operating profit)

 
Passenger unit revenue 6.7 per cent worse* Iberia €51m operating profit (2014: €16m operating profit)

 
Non fuel unit costs 4.9 per cent better*

 

 Vueling €24m operating profit (2014: €30m operating profit)

 
Customer recommendation 2.1 per cent above stretch target

 
Punctuality (ready to go) 56 per cent, two per cent below target

*at constant currency. All BA and Iberia figures are before the effect of Avios restructuring

 

Willie Walsh, IAG Chief Executive Officer, said: “We made an operating profit of €530m in the quarter, up from a €380m operating profit last year.

“At constant currency, revenue was down 1.2 per cent with passenger unit revenue down 6.6 per cent. Non-fuel unit costs were down 6.9 per cent while fuel unit costs were down 12 per cent.

“We said previously that profit improvement would be slower in the second quarter and we are on track to reach our full year targets.

“We continue to take costs out of the business, with both employee and supplier unit costs down at constant currency, and improvements in productivity levels.

“In the half year, we made an operating profit of €555 million which is up from a €230 million operating profit last year.”