The International Consolidated Airlines Group (IAG) has reported a third quarter 2024 net profit of €1.4 billion on a year-over-year increase in revenue of 7.9 percent to €9.3 billion. At September 30, 2024, the Group had €13.3 billion in liquidity.
On Friday (November 8, 2024), the International Consolidated Airlines Group (IAG) reported their third quarter financial results for the period ending September 30, 2024. The Group reported a third quarter net profit of €1.4 billion or 47.6 euro cents per basic share on a year-over-year increase in revenue of 7.9 percent to €9.3 billion. IAG’s third quarter passenger revenue per available seat mile (PRASK) increased 2.2 percent versus Q3 2023 to 8.23 euro cents, while cost per available seat mile (CASK) increased 0.9 percent to 8.01 euro cents. At the close of the third quarter, IAG had liquidity totaling €13.3 billion, including €9.8 billion in cash, cash equivalents and interest bearing deposits, as well as €3.2 billion in committed and undrawn credit facilities and €250 million in committed and indrawn aircraft facilities.
In Friday’s announcement, IAG’s Chief Executive Officer, Luis Gallego, said,
“We achieved a very strong financial performance in Q3 2024, with a 15.4% increase in operating profit compared to the same period last year and improving our margin to 21.6%. This is due to the effectiveness of our strategy and Group-wide transformation. We are also delivering on our commitment to provide sustainable returns for shareholders. Demand remains strong across our airlines and we expect a good final quarter of 2024 financially.”
The International Consolidated Airlines Group (IAG) is one of the world’s leading airline groups and has a combined fleet of nearly 600 aircraft. The Group’s airlines include Aer Lingus, British Airways, Iberia, Level and Vueling. The company’s other subsidiaries include IAG Loyalty, IAG Cargo, and IAB Global Business Services (GBS).
Source: International Airlines Group (IAG) / RNS Number: 5101L
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