BA owner IAG reassures with earnings, orders 18 Boeing jets

LONDON - British Airways owner IAG weathered rising fuel costs and air traffic control disruption to just beat expectations for its 2018 results on Thursday, and said it would order 18 Boeing 777-9 planes.

IAG reported a 9.5 percent rise in operating profit before exceptional items for the year to Dec. 31 to 3.23 billion euros , ahead of analysts’ consensus forecast for 3.16 billion, but said there would be no growth in 2019. But IAG has voiced its dissatisfaction with the performance of Rolls Royce, which makes engines for the A350 and which on Thursday also withdrew from the race to power Boeing’s mid-market plane. The 777-9 uses GE engines.

IAG, which also owns Iberia, Aer Lingus and Vueling, said passenger revenue rose 6.2 percent across the group in 2018, with passenger unit revenue up 2.4 percent. It announced a special dividend of 35 euro cents a share.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Rolls-Royce withdraws from race to power Boeing's mid-market planeRolls-Royce said it had withdrawn from a competition to power Boeing's plan... Very smart decision. Knowing your limitations a wonderful thing incl for humans. For example for President Trump. Whaaaat......!? Circuit Judge Judith Rogers gave Judge Friedman $250 gift, & she presided on his rulings against David Louis Whitehead. She's one of the Time Warner-AT&T judges! Judge Sentelle ruled against David Whitehead while holding Marvel stocks. He was one of the AT&T-Time Warner judges.
Source: Reuters - 🏆 2. / 97 Read more »