IAG Full Year Results 2011

IAG period highlights on combined results: 
·      Fourth quarter operating profit of €34 million, before exceptional items (2010: €6 million) 
·      Operating profit for the year to December 31, 2011 of €485 million, before exceptional items (2010: €225 million) 
·      Profit before tax for the year of €503 million after exceptional items (2010: €84 million) 
·      Revenue for the year up 10.4 per cent to €16,339 million (2010: €14,798 million), including €317 million or 2.1 per cent of adverse currency impact 
·      Passenger unit revenue for the year up 3.6 per cent (5.8 per cent at constant currency), on top of capacity increases of 7.1 per cent 
·      Fuel costs for the year up 29.7 per cent to €5,068 million, before exceptional items (2010: €3,907 million), fuel unit costs were up 21.4 per cent 
·      Other operating costs up 1.1 per cent at €10,786 million, before exceptional items, including €165 million or 1.5 per cent of favourable currency impact. Non-fuel unit costs down 5.6 per cent, or 4.1 per cent at constant currency 
·      Cash down €617 million for the year to €3,735 million 
·      Group net debt up €253 million in the year to €1,148 million