IAG reported positive Q3 18 results, which were slightly higher than the consensus and in line with our expectations. Q3 18 operating profit came to €1,460m (20.4% margin) vs. €1,450m in Q3 17, as it was negatively impacted by an adverse €111m net FX. Total unit revenue, up by 1.7% yoy (+2.7% yoy at constant currency), has been slightly slowed by the +0.5% increase in non-fuel unit costs but mainly by the +14.3% increase in fuel unit costs. For the first nine months of FY18, op
26 Oct 2018
The European exception
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The European exception
International Consolidated Airlines Group SA (IAG:LON) | 169 -0.5 (-0.2%) | Mkt Cap: 8,311m
- Published:
26 Oct 2018 -
Author:
Laura Parisot -
Pages:
2
IAG reported positive Q3 18 results, which were slightly higher than the consensus and in line with our expectations. Q3 18 operating profit came to €1,460m (20.4% margin) vs. €1,450m in Q3 17, as it was negatively impacted by an adverse €111m net FX. Total unit revenue, up by 1.7% yoy (+2.7% yoy at constant currency), has been slightly slowed by the +0.5% increase in non-fuel unit costs but mainly by the +14.3% increase in fuel unit costs. For the first nine months of FY18, op