British Airways owner lifts guidance | Fin24
 
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British Airways owner lifts guidance

Oct 30 2015 14:30

London - International Airlines Group, owner of British Airways and Iberia, upgraded its annual guidance on Friday as growing passenger numbers and lower fuel costs led to strong third-quarter profits.

IAG, which bought Ireland's Aer Lingus in August, predicted full-year operating profit would range from €2.25bn and €2.3bn.

That compared with the previous profit guidance of €2.2bn.

IAG added in a results statement that net profits jumped 42% to €848m in the three months to the end of September.

Excluding Aer Lingus, it also posted a third-quarter operating profit of €1.21bn, beating analysts' forecasts of €1.19bn.

Revenues rebounded 15% to €6.756bn, boosted by a 17.7% jump in passenger numbers to 27.564 million people.

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