OREANDA-NEWS. International Consolidated Airlines Group (IAG) today (February 28, 2014) presented Group consolidated results for the year to December 31, 2013.

IAG period highlights on results:

Fourth quarter operating profit EUR 113 million (2012: operating loss of EUR 40 million) before exceptional items

At constant currency and excluding Vueling and one-offs, fourth quarter passenger unit revenue up 2.7 per cent, and non-fuel unit costs down 2.7 per cent

Operating profit for the year to December 31, 2013 of EUR 770 million (2012: operating loss of EUR 23 million) before exceptional items

Revenue for the year up 3.1 per cent to EUR 18,675 million and passenger unit revenue for the year up 0.6 per cent (3.7 per cent at constant currency)

Fuel costs for the year down 2.5 per cent to EUR 5,951 million (2012: EUR 6,101 million). Fuel unit costs down 5.0 per cent at constant currency

Non-fuel costs before exceptional items for year down 0.7 per cent at EUR 11,954 million. Non-fuel unit costs down 5.6 per cent, down 2.7 per cent at constant currency

Cash of EUR 3,633 million at December 31, 2013 was up EUR 724 million on 2012 year end (December 2012: EUR 2,909 million).

Adjusted gearing down 1 point to 50 per cent