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IAG boosts cash position

IAG added €1.32 billion ($1.66 billion) to its cash balance in the last 12 months ended 30 September, on the back of a solid performance across its three airline divisions.

The group's cash position reached €5.06 billion, up from €3.74 billion at 30 September 2013.

At 30 September 2014, British Airways' cash position was €3.16 billion, Iberia's €931 million, Vueling's €751 million, and that of the remaining IAG companies €226 million.

In the third quarter alone, Iberian generated approximately €100 million in cash, while BA and Vueling maintained their balances.

Since the beginning of this year, Iberia has improved its position by €200 million while Vueling's cash balance is up €300 million. BA's has risen £600 million ($959 million).

At 30 September 2013, the group's cash balance comprised €2.2 billion held by BA plus Iberia's €689 million, Vueling's €591 million and other IAG units' €258 million.

Adjusted net debt totalled €5.55 billion at 30 September 2014, a €154 million decrease since the beginning of the year but a €295 million increase from the end of 2013's third quarter.

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