International Consolidated Airlines Group (IAG) has reported third quarter operating profit of €900 million before exceptional items, which is €210 million better than last year. At constant currency, third quarter passenger unit revenue was down 0.9% per cent and non-fuel unit costs down 4.5%. Revenue for the quarter was up 8.5% to €5,866 million, up 6.9% at constant currency. Fuel unit costs dropped 7.5% at constant currency, while operating profit for the nine months was €1,130 million before exceptional items, €473 million better than last year. IAG reported an exceptional charge of €82 million for currency re-evaluation. The company had cash of €5,064 million at September 30, 2014, up €1,431 million on 2013 year end, with adjusted gearing down 4 points to 46%.
IAG Q3 profits up
