StockMarketWire.com - British Airways owner International Consolidated Airlines reported a slump in profit, as pilot strikes disrupted operations, keeping a lid on revenue growth.

For the nine months ended 30 September, operating profit, after exceptional items, fell 24.9% to €2.5bn, while revenue increased 5.7% to €19.4bn.

Passenger revenue per ASK grew just 0.6% to 6.72 euro cents.

'The quarter was heavily impacted by industrial action by BALPA pilots, which together with other disruption resulted in an adverse operating profit impact of €155m,' the company said.

'These are good underlying results. As we said in September, our performance has been affected by industrial action by pilots' union BALPA and other disruption including threatened strikes by Heathrow airport employees,' the company added Looking ahead, the company said passenger unit revenue was expected to be slightly down at constant currency and non-fuel unit costs were expected to improve at constant currency. At 8:11am: [LON:IAG] International Consolidated Airlines Group share price was -9.1p at 510.7p



Story provided by StockMarketWire.com