Aer Lingus doubles first-half profit but Vueling loss deepens

International Airlines Group (IAG), the holding company of Aer Lingus, British Airways, Iberia and Vueling, has reported Aer Lingus more than doubled its operating profit in the first half to the year to EUR 104m (USD 120m), the company said.

Aer Lingus generated 8% higher revenues, at EUR 899 million, for the six months to 30 June.

Spanish budget carrier Vueling incurred an EUR 11 million operating loss, deeper than the EUR 7 million recorded in the previous year.

IAG says that Vueling continued its efforts to reduce network seasonality, with growth in the first half, but air traffic control strikes in France led to a significant level of cancellations for the airline.

Vueling´s revenues of just over EUR 1 billion for the half-year were up by 11.5%.

British Airways (BA) contributed an operating profit of EUR 868 million an increase of 17%, edged revenues up by by 1.2% to EUR 7.1 billion.

BA, the UK flag-carrier also benefited from a gain of EUR 620 million, taking its overall operating profit to EUR 1.49 billion. This gain was the result of changes to the airline´s employee pension scheme, partly offset by employee severance costs associated with a BA restructuring programme.

Spanish flag-carrier Iberia´s operating profit increased by 17%, to EUR 102 million.

IAG has not detailed the financial performance of its long-haul budget airline Level, it simply lists “other” companies in the group as contributing a €52 million profit.

International Airlines Group has 546 aircraft flying to 279 destinations and carrying around 105 million passengers each year. It is the third largest group in Europe and the sixth largest in the world, based on revenue. IAG is a Spanish registered company with corporate headquarters in London, UK.