Sure, British Airways didn't have the best quarter ever, but it's got €4 billion stacked away
Skift Take
It's not exactly Apple money, but IAG's billions will help see it through the tough patches, even if the euro loses a bit of steam.
The most important number in the IAG results is not British Airways’ €13m (£10.2m) operating profit, the 25pc increase in fuel costs or even Iberia’s €263m operating loss.
No, the most important number in today’s half-year numbers is the €4bn of cash that chief executive Willie Walsh has accumulated on the company’s balance sheet. It’s the number that will probably prove the difference between success and failure for this fledgling airlines conglomerate and eventually secure Walsh’s legacy.
Without those reserves in place it’s questionable whether the creation of the group, through the combination of BA, Iberia and bmi over the past
