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IAG Profit

IAG increases profit despite industry trend

IAG Profit

© Daniel Luis Gómez Adenis from Alcalá de Henares, España [CC BY 2.0], via Wikimedia Commons

British Airways parent company IAG earned more than expected in the second quarter thanks to higher demand. Adjusted for special effects, operating earnings climbed by almost seven percent to 960 million Euro compared to the prior year period, as announced by the Group on Friday in London. This was achieved despite higher fuel costs.

 

Rival airlines Lufthansa and Ryanair, on the other hand, had to contend with a sharp drop in profits. The bottom line for the International Airlines Group (IAG) was a surplus of 736 million euros, almost one-fifth more than a year earlier. Revenue increased by almost ten per cent year-on-year to almost 6.8 billion euros. In addition to British Airways, the Spanish companies Iberia, Vueling and Level as well as the Irish Aer Lingus also belong to the Group.

 

(career.aero, dpa)

Aug 2, 2019

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