Drop in fuel prices helps boost IAG profits
Lower fuel prices helped British Airways’ parent IAG push operating profit to €530 million for the second quarter, up from €380 million the year before.
The group, which also owns Iberia and Vueling and is in the process of buying Aer Lingus, said it is on track to achieve full-year operating profit of more than €2.2 billion.
"We said previously that profit improvement would be slower in the second quarter and we are on track to reach our full year targets," said chief executive Willie Walsh.
"We continue to take cost out of the business, with both employee and supplier unit costs down at constant currency, and improvements in productivity levels.
"In the half year, we made an operating profit of €555 million which is up from a €230 million operating profit last year".
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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