Q1 2020 International Consolidated Airlines Group SA Earnings Call Transcript
Ladies and gentlemen, thank you for standing by, and welcome to the First Quarter 2020 International Consolidated Airlines Group, S.A. Earnings Conference Call. (Operator Instructions) I must advise you that this conference is being recorded today on the 7th of May 2020. I would now like to hand the conference over to your speaker today, Willie Walsh. Please go ahead, sir.
Thank you, and good morning, everyone. Thank you for joining us. So before I hand over to Steve Gunning to take you through a more detailed presentation, just like to make a few opening comments. So I probably don't need to tell you guys that this is not a normal quarter, in fact, far from it, as evidenced by the fact that I'm presenting when I should be retired.
So we are reporting an unusual quarterly pre-exceptional operating loss of EUR 535 million compared to a profit last year of EUR 135 million. I mentioned on the last call that the first 2 months were slightly loss-making were actually
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