British Airways-owner IAG profit jumps 75%

British Airways-owner IAG profit jumps 75%
British Airways-owner IAG’s quarterly profit was boosted by favorable foreign exchange movements. (Reuters)
Updated 04 May 2018

British Airways-owner IAG profit jumps 75%

British Airways-owner IAG profit jumps 75%

LONDON: British Airways-owner IAG posted a jump in quarterly profit, boosted by favorable foreign exchange movements, in an earnings announcement that made no reference to the group’s potential takeover of low-cost competitor Norwegian.
IAG reported operating profit before exceptional items of €280 million in the three months ended March 31, beating an analyst consensus forecast of €206 million, and a 75 percent rise on the €160 million it made in the same period last year.
IAG, which also owns Iberia, Aer Lingus and Vueling, acquired a 4.6 percent stake in struggling Norwegian in April with a view to starting takeover discussions.