International Airlines Group has seen operating profit before exceptional items fall 5.7 per cent, to €3,285 million, for the year to December 31st.
Profit after tax and before exceptional items was down 1.4 per cent, €2,387 million.
Fuel unit costs for the year at the group – which includes British Airways, Iberia and Aer Lingus – were up 9.6 per cent, or up 5.7 per cent on a constant currency basis.
Airline non-fuel unit costs were down 0.9 per cent.
Outgoing IAG chief executive, Willie Walsh, said: “These are good results in a year affected by disruption and higher fuel prices.
“We demonstrated our robust and flexible model once again through additional cost control and by reducing capacity growth to reflect market conditions.
“We’ve increased investment in new aircraft, customer products and operational resilience and this has seen our airlines improve their customer performance scores this year.”
IAG said quarter four had been strong, with an operating profit of €765 million before exceptional items.
As with all airlines, the group is battling the coronavirus outbreak.
In Asia, IAG has suspended flights to mainland China.
On January 29th, British Airways suspended its daily flight to both Beijing and Shanghai, while…