Home > Ireland > Aer Lingus owner IAG reiterates flat profit guidance as fuel prices weigh

Aer Lingus owner IAG reiterates flat profit guidance as fuel prices weigh

Written by Business World, on 10th May 2019. Posted in Ireland

article headline

Aer Lingus owner IAG on Friday reiterated that there would be no growth in operating profit in 2019 due to pressure from higher fuel prices as it posted first quarter results in line with expectations.

The airlines group, which also owns Iberia, British Airways and Vueling, said first quarter operating profit was 135 million euros, compared to consensus analyst expectations of 136 million euros.

"In a quarter when European airlines were significantly affected by fuel and foreign exchange headwinds, market capacity impacting yield and the timing of Easter, we remained profitable," said Chief Executive Willie Walsh.

IAG said operating profit in 2019 would be in line with the 2018 outcome at current fuel prices and exchange rates.

The firm said that profit after tax before exceptional items was down 62.6% to 70 million euros. (Reuters)

Source: www.businessworld.ie

More articles from Ireland

image Description

Jobs might be permanently lost in tourism and retail in Dublin

Read more
image Description

Ireland remains in Top 10 most attractive European Locations for FDI

Read more
image Description

Nearly half of Irish consumers delaying large purchases

Read more
image Description

Irish banks extending payment breaks

Read more
image Description

Over 60% of Irish employees worried about future impact of Covid-19 on job

Read more