Dr. Ashley Steel, KPMG’s global chair for aviation comments on today’s IAG full year results:
“With non oil costs down and revenues up, IAG, with its operating units of BA and Iberia, has delivered great results in some of the most difficult economic times since BA’s privatisation decades ago.”
“This comes on the back of good results at EasyJet, Ryan Air and Aer Lingus who are all performing well and demonstrating strong management. Further confidence in the sector can be taken from Etihad’s investment in Air Berlin, IAG’s planned acquisition of Bmi and new aircraft announcements at Virgin.”
“The skies definitely start to look brighter. The recipe for success seems to be a mixture of the right ownership structure, size (the bigger the better), and most important leadership.”
“Bold and confident leadership will be the most important ingredient for success – and at the moment we seem to have this in spades.”
For further information please contact:
Katrin Boettger, Senior PR Manager
Tel: +44 207 896 4232 / 0782 4475168
Email: Katrin.boettger@kpmg.co.uk
About KPMG:
KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with over 11,000 partners and staff. The UK firm recorded a turnover of £1.7 billion in the year ended September 2011. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 152 countries and have 145,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. KPMG International provides no client services.
