Iberia earnings grow in 2007

Iberia obtains best half-yearly results for 5 years

Iberia has made a profit of 74.8 million euros in the first 6 months of this year, its best economic performance for 5 years. This also contrasts with the first 6 months of 2006 when it recorded a loss of 9 million euros. The company has put this turn around in its economic performance down to filling more seats – 80.2% of seats were filled – together with a drop of 0.7% in running costs. In addition, operating profits reached 70 million euros which is also better than results for the same period last year.

Income per passenger which makes up 80% of the total increased by 2.1%, at over 2 million euros, while ticket sales reached 155.1 million euros which is 6.2% more than last year. Handling costs dropped by 12.5% to 147.3 million euros and income for maintenance work carried out for other companies increased by 27.4 per cent to 131 million euros.

Running costs dropped 2.3% to 2.

59 million euros compared to 2.66 million euros for the same period in 2006. Fuel costs, which make up 20.5% of the company’s total running costs, were 532.6 million euros a drop of 28 million euros with respect to the same period last year.

In the first 6 months of 2007 Iberia carried 13.18 million passengers. Furthermore, during this period Iberia has started operating 5 new routes, all of which are in strategic markets. Iberia now operates new routes to the US with flights to Boston and Washington, Eastern Europe with flights to Bucharest and St Petersburg and North Africa with flights to Algeria.