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European airline International Consolidated Airlines, following the results of the first quarter of this year, reported a drop in net profit 11 times compared with the same period last year to 70 million euros. Operating profit was 135 million euros. Its fall for the year was at the level of 60.3%. The company also recorded a reduction in adjusted earnings of 86.2% to 135 million euros. Analysts had predicted a figure of 136 million euros. At the same time, passenger traffic brought the company revenue growth of 5.2% to 4.65 billion euros. During the earnings season, the air carrier increased fuel costs by 15.8%. For the quarter, the company carried 24.38 million passengers. During the year their number increased by 6.2%.
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
Samsung Electronics Co Ltd looks forward to the second half of the year as it expects a larger increase in chip demand brought by new smartphone launches. However, the company warned that the coronavirus crisis and trade disputes carry risks. Samsung, ...
On Wednesday, European stocks rose slightly after mixed earnings reports. However, the new wave of the coronavirus outbreak kept investors cautious while they also wait for the U.S. Federal Reserve’s announcement. The Stoxx Europe 600 ...
European stocks traded slightly higher on Tuesday ahead of a U.S. decision to roll out additional stimulus plans despite the underwhelming quarterly earnings reports from the luxury goods market. The pan-European STOXX index inched higher ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
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