International Consolidated Airlines Group’s (IAG) first-quarter pre-tax profits were hit by a €1.3bn (£1.1bn) exceptional charge relating to its fuel and foreign-exchange hedges for 2020, following the collapse in the price of oil. The parent of British Airways and Iberia experienced a 13 per cent revenue decline to €4.6bn, recording a pre-exceptional operating loss of €535m compared with a profit of €135m last year.
Join our community of smart investors
Subscribe today and enjoy unlimited access:
- Comprehensive companies coverage
- Actionable commentary, ideas and portfolios
- Tools and data to help you manage and track investments.
- Help managing your portfolio
