- Traffic up 11.4 per cent in February
– Agreements reached with Iberia pilots, unions
International Consolidated Airlines Group, otherwise known as IAG, saw continued positive momentum in passenger traffic in February, with the new financial year off to a strong start.
The British Airways owner said that traffic, as measured in revenue passenger kilometres (RPK), increased at a year-on-year rate of 11.4% last month, equivalent to a 4.9% increase on a pro-forma basis.
This followed the 11.1% annual growth registered in January and was well ahead of the 5.8% increase in RPK seen over the whole of 2013.
Group capacity, measured in available seat kilometres (ASK), rose by 11.2% (+4.9% pro-forma) in February, compared with 11% growth the month before and the 5.2% registered last year.
Group premium traffic rose by 5.2% in February, though this was down on the 7.8% growth in January.
IAG also said that it has reached agreements in principle with its pilots and cabin crew unions of its Spanish airline Iberia in an effort to ‘introduce permanent structural change and fundamentally improve the airline’s productivity’.
The company said that salaries will remain frozen until 2015 and any increases after that date will be subject to Iberia’s profitability.
The stock was 0.2% higher at 440.9p on Wednesday afternoon following the statement.