IAG traffic shows BA bounce-back
International Consolidated Airlines Group SA (CDI)
177.35p
09:40 25/04/24
International Consolidated Airlines Group (IAG) grew passenger traffic 3.1% in September thanks to a strong performance from Iberia that made up for a weak month for British Airways.
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Revenue passenger kilometres across the group increased by 3.1% in September compared to the same month last year, with capacity, as measured in available seat kilometres, up 1.3%.
September's growth was lower than the year to date average, which was 3.2% nine months into 2017.
Premium traffic increased 3.0% year on year.
Traffic at BA was up 0.9% for the month, which kept year-to-date growth at 1.1% after the declines in July and August, while capacity was up 0.1% and 0.7% for the year.
Iberia grew traffic 8.6% and capacity by 4.5%, which was an improvement on the year-to-date performance.
Early in September, Iberia reached agreement with its unions on a new voluntary redundancy programme which will affect up to 955 jobs, with early retirement offered as one of the options and the programme expected to last until the end of 2019.
Despite the BA improvement, shares in IAG, which are trading around all-time highs, fell into the red late on Wednesday.