IAG first quarter results

Last week International Consolidated Airlines Group (IAG) impressed the market with impressive first quarter results and traffic statistics For the first three months of the year, IAG’s operating profit was €170 million before exceptional items compared to €155 million in the year-ago period. IAG reported an adverse net foreign exchange operating profit impact for the quarter of €32 million. Passenger unit revenue for the quarter down 7.2 per cent, down 3.1 per cent at constant currency. Non-fuel unit costs before exceptional items for the quarter down 3.9 per cent, up 1.4 per cent at constant currency. Fuel unit costs before