International Consolidated Airlines Group SA (LSE:IAG)
£ 1.7275 0.0075 (0.44%) Market Cap: 8.50 Bil Enterprise Value: 16.40 Bil PE Ratio: 9.87 PB Ratio: 3.01 GF Score: 74/100
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Q3 2019 International Consolidated Airlines Group SA Earnings Call Transcript

Oct 31, 2019 / 09:00AM GMT
Release Date Price: £5.31 (+2.19%)
Operator

Ladies and gentlemen, thank you for standing by and welcome to the International Airlines Group Q3 results call. (Operator Instructions)

I must advise you that the conference is being recorded today, Thursday, the 31st of October 2019.

I would now like to hand over to your first speaker today, Willie Walsh, Chief Executive Officer. Please go ahead, sir.

William Matthew Walsh
International Consolidated Airlines Group, S.A. - CEO & Executive Director

Thank you very much, and good morning, everyone. Thank you for joining us. As you can see, these are good underlying results. The quarter was negatively affected by the BALPA pilots' strike at British Airways. Our operating profit of EUR 1.425 billion, that's a margin of 19.5%. The impact of the strikes and disruption in the third quarter is EUR 155 million. You'll remember on the 26th of September, we indicated a total of EUR 215 million impact for full year. So EUR 155 million of that has affected the third quarter. And the balance, EUR 60 million, will be in the fourth quarter.

We

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