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  • IAG lifts third-quarter operating profits to €900m

IAG lifts third-quarter operating profits to €900m

IAG has turned an operating profit of €900 million ($1.13 billion) for the third quarter, ending 30 September, compared with 690 million in the same period last year.

It achieved the results on the back of a strong performance from all three of its carriers: British Airways, Iberia and Vueling.

British Airways made an operating profit in the period of €607 million, up from €477 million in the same period last year.

Iberia's operating profit increased to €162 million from €74 million, while Vueling reported an operating profit of €140 million, slightly ahead of the €139 million it made last year.

IAG’s combined revenues for the quarter rose 8.5% to €5.86 billion while the non-fuel unit costs were down 4.5% and fuel unit costs were down 7.5%.

For the first nine months of the year, IAG reported an operating profit of €1.13 billion. Revenues rose 7.5% to €15.1 billion while costs rose 4.2% to €14 billion.

IAG is forecasting an operating profit for 2014, before exceptional items, of €1.32-1.37 billion.

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