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Spain troubles hit IAG performance

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Strong figures in long-haul out of London, poor figures in Madrid

International Airlines Group, the company created by the merger of British Airways and Iberia, has admitted that the worsening economic conditions in Spain have hit its overall performance. Despite strong figures in long-haul travel out of London, performance at IAG’s Madrid hub has deteriorated. Traffic measured in revenue passenger kilometres was up 6.6% in May year-on-year, while passenger load factor increased by 0.5 percentage points to 78.6%.
“Underlying market conditions at our London Heathrow hub continue to be firm, particularly in long-haul premium,” the company commented. “However, commercial performance at our Madrid hub has deteriorated further due to the ongoing effects of the Spanish and wider euro zone macroeconomic conditions and the after-effects of prolonged industrial action.”
Reuters
[pictured: Iberia A320]

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