IAG, the parent of British Airways and Iberia, in common with several other airline groups (link to Lufthansa analysis) published its results for the first half of the year in the past week.
Revenue for the six month to 30 June was €10,786 million up by 4.1% from €10,363 million in the same period in 2015.
Pre-tax operating profit grew sharply, up 42.2% to €789 million from €555 million.
Our chart this week shows how the group's operational costs stack up and how thee compare to the same period in 2015.
The most obvious point to note is the fall in fuel costs, one of the group's top two areas of expenditure. Fuel and other related charges are down 18.7% year on year to €2,437 million. Every other cost centre has edged upwards.
Willie Walsh, IAG's chief executive, said of the figures: "Our performance this quarter saw a negative currency impact of €148 million, primarily due to the weak pound. Numerous external factors affected our airlines including the impact of terrorism, uncertainty around the UK's EU referendum and Spain's political situation and increased weakness in Latin American economies. This led to a softer than expected trading environment, especially in June. In addition, the airlines' operations have been considerably disrupted by 22 air traffic control strikes in Europe so far this year. This has impacted our passenger revenues.
"Our non-fuel unit costs fell 1.1% but are up 0.8% at constant currency, following the significant cost reductions achieved last year."