IAG Profits Rise On The Back Of Fuel Price Drop

International Airlines Group (IAG), the parent company of British Airways, Iberia, Aer Lingus and Vueling, has reported an annual net profit of €1.5bn ($1.6bn), a year-on-year increase of 51 per cent.

International Airlines Group (IAG), the parent company of British Airways, Iberia, Aer Lingus and Vueling, has reported an annual net profit of €1.5bn ($1.6bn), a year-on-year increase of 51 per cent.

In its annual results, the airline group attributed the profit surge to a combination of increased demand and reduced fuel costs, which fell 17 per cent in 2015.

Revenues for the year ending December 31, 2015 also increased by 13.3 per cent to €22.8bn ($24.7bn) from 2014’s €20.1bn ($21.8bn) total.

Passenger numbers rose by 14.2 per cent at 88.3 million in 2015 compared to 77.3 million in the previous year.

IAG CEO Willie Walsh said the airline group now plans to add more widebody aircraft to its fleet - potentially used 777-300ERs and new A380s on lease to meet demand.

TAGS: Europe
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