IAG Returns To Q1 Profit

International Airlines Group (IAG), the parent company of British Airways, Iberia and Aer Lingus, has posted a Q1 2016 profit of €104m ($118.5m) compared with a €26m ($30.1m) loss it reported in the same period last year.

International Airlines Group (IAG), the parent company of British Airways, Iberia and Aer Lingus, has posted a Q1 2016 profit of €104m ($118.5m) compared with a €26m ($30.1m) loss it reported in the same period last year.

In the three months up to March 31, IAG’s revenues slightly bettered analysts’ forecasts by climbing 7.9 per cent year-on-year to €5bn ($5.7bn), which it attributed to low fuel prices and a climb in passenger revenues which increased by eight per to €4.4bn ($5bn) compared to Q1 2015.

Willie Walsh, IAG CEO, described the results as a “good performance with a strong increase in what is traditionally the weakest quarter”.

TAGS: Europe
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