British Airways parent IAG is blaming the UK carrier's pilot strike in September for a fall in third-quarter operating profit.
IAG's operating profit for the three months to 30 September reached €1.42 billion before exceptional items, compared with the previous figure of €1.53 billion.
Chief executive Willie Walsh describes the figures as "good underlying results", pointing out that the industrial action at BA – as well as threatened strikes by London Heathrow staff – had an adverse impact of €155 million on operating profit.
He adds that IAG's fuel expenditure increased by €136 million during the quarter. Passenger unit revenues slipped by 1.1% at constant currency while non-fuel unit costs rose by the same proportion.
Operating profit before exceptionals for the first nine months was €2.52 billion, down by €250 million, partly owing to the "heavily impacted" third quarter.
IAG says it expects its full-year operating profit to be €215 million lower than the previous figure of €3.48 billion.