OREANDA-NEWS. International Consolidated Airlines Group (IAG) today (May 9, 2014) presented Group consolidated results for the three months to March 31, 2014.

IAG period highlights on results:

First quarter operating loss EUR 150 million (2013: operating loss of EUR 278 million) before exceptional items

Revenue for the quarter up 6.7 per cent to EUR 4,203 million, up 7.6 per cent at constant currency

Non-fuel costs up 3.8 per cent, up 4.8 per cent at constant currency

At constant currency, first quarter passenger unit revenue down 1.4 per cent (excluding Vueling down 0.5 per cent) and non-fuel unit costs down 6.2 per cent (excluding Vueling down 4.2 per cent)

Fuel unit costs for the quarter down 8.9 per cent, 7.4 per cent at constant currency

Cash of EUR 4,004 million at March 31, 2014 was up EUR 371 million on 2013 year end

Adjusted gearing remains at 50 per cent