International Consolidated Airlines Group SA (OTCPK:BABWF)
$ 2.635 0.025 (0.96%) Market Cap: 13.33 Bil Enterprise Value: 20.60 Bil PE Ratio: 13.31 PB Ratio: 2.61 GF Score: 78/100
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Q1 2023 International Consolidated Airlines Group SA Interim Management Statement Call Transcript

May 05, 2023 / 08:00AM GMT
Release Date Price: $1.88 (+2.60%)
Operator

Good day and thank you for standing by. Welcome to the Q1 2023 International Airlines Group Earnings Conference Call.

(Operator Instructions) Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your speaker today, Luis Gallego, CEO.

Please go ahead.

Luis Gallego Martin
International Consolidated Airlines Group S.A. - CEO & Executive Director

Thank you very much. Good morning and welcome to the IAG Q1 results.

I'm joined today by Nicholas Cadbury and the IAG airline CEOs.

Firstly, I am very pleased to report the first profitable quarter 1 since 2019. Pre pandemic, it was normal for IAG to be profitable in the first quarter, something which is not common for European airlines. Our return to profitability in quarter 1 this year is therefore another sign that we are returning to normal. Quarter 1 was ahead of our expectations due to strong demand trends, particularly for our Spanish airlines and in the leisure segment for all our airlines. Fuel prices were

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