IAG makes a profit despite a tough first quarter for airlines
Tuesday, May 14, 2019
The International Airline Group, owner of British Airways, Iberia, Vueling and Aer Lingus, has managed to stay in the green numbers during the first quarter of 2019. An impressive feat considering that other major European airlines did not. Both Lufthansa and KLM-Air France reported operational losses.
How much money did IAG make in the first quarter of 2019?
The corporation reported the profits to be around 135 million euros. Even though they managed to turn a profit, these are not great news. The profit made during the same period in 2018 amounted to 340 million euros. It’s a hard blow to the group due to the fact that they saw their revenue by passenger increase by 5.9% compared to last year. Higher fuel and operational costs are blamed for the decrease in profit. Their competitors fared way worse, however.
How much money did KLM-Air France lose in the first quarter of 2019?
The consortium has declared a net loss of 303 million euros. And, exactly like IAG, they’ve pointed their fingers to fuel costs as the main culprit responsible for the losses. However, the group saw a 2% decrease in revenue per passenger. Making matters worse than what was expected.
It’s notable that jet fuel prices have matched the ones observed during 2015. That means that they have increased by almost 100% since January 2016. The steadfast increase has made it more and more difficult for European airlines to remain profitable.
What about my passenger rights when flying with KLM-Air France or an IAG airline?
Your passenger rights remain constant when it comes to flying with European airlines. If your flight has been delayed or cancelled and, therefore, you’ve arrived at your final destination with a delay greater than 3 hours, you can claim compensation for your troubles. You can submit your claim with us and we’ll make sure to hold the airline accountable. Best of all, our 25% win fee will cover absolutely everything! You only have to pay it if we succeed at claiming your compensation, so no costs upfront. Exercise your rights!