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IAG reports third quarter profit growth

British Airways tail fins

International Airlines Group (IAG) has reported a post-tax profit of €1.57 billion for the nine months to September 30, up 5.6 per cent on the same period of 2016.

The group said it predicts its operating profit for 2017 will be around €3 billion before tax, boosted by a 7.5 per cent dip in fuel costs in the third quarter. Operating profit before taxes for the quarter achieved a 20.7 per cent increase.

Willie Walsh, IAG CEO, said: “All our companies performed well. Passenger unit revenue was up 2.2 per cent at constant currency boosted by improvements in the Spanish and Latin American markets. Our commercial performance was good despite underlying disruption from severe weather and terrorism. IAG Cargo improved in the quarter due to stronger Asia-Pacific demand compared to last year.”

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