International Airlines Group (IAG), parent company of British Airways and Iberia, had €4.01 billion ($4.9 billion) cash, cash equivalents and other interest-bearing deposits at the end of the first half, down from €4.19 billion a year ago.
The cash balance at 30 June 2012 comprised €2.82 billion held by British Airways, €1.16 billion held by Iberia and €23 million held by IAG.
Cash and cash equivalents, excluding interest-bearing deposits, totalled €2.1 billion at 30 June 2012, up from €1.67 billion at the end of the second quarter of 2011.
In the first six months of this year, IAG generated €591 million net cash from operating activities compared with €632 million in the corresponding period last year.
IAG used €710 million net cash in investing activities while it generated €335 million net cash in the second quarter of 2011.
The carrier group generated €176 million net cash from financing activities against €185 million in the same period a year earlier.
Group net debt has increased by €830 million since last year's half-year results and now stands at €1.31 billion. At 31 December 2011, net debt was €1.15 billion.
IAG reported a €95 million net loss for the second quarter, reversing a €38 million profit in the corresponding period last year.