European Air Group IAG reduced quarterly profit 11 times

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European airline International Consolidated Airlines, following the results of the first quarter of this year, reported a drop in net profit 11 times compared with the same period last year to 70 million euros. Operating profit was 135 million euros. Its fall for the year was at the level of 60.3%. The company also recorded a reduction in adjusted earnings of 86.2% to 135 million euros. Analysts had predicted a figure of 136 million euros. At the same time, passenger traffic brought the company revenue growth of 5.2% to 4.65 billion euros. During the earnings season, the air carrier increased fuel costs by 15.8%. For the quarter, the company carried 24.38 million passengers. During the year their number increased by 6.2%.

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