BA and Iberia owner IAG raises profit outlook

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By Euronews
BA and Iberia owner IAG raises profit outlook

<p><span class="caps">IAG</span>, the new owner of Aer Lingus which also has the likes of British Airways and Iberia in its portfolio, has raised its profit outlook after third quarter results exceeded expectations.</p> <p>It now says its operating profit for the full year excluding Aer Lingus could be as high as 2.3 billion euros, up from its previous forecast of 2.2 billion.</p> <p>The group, which also owns Vueling, cites strong demand for summer travel and cheaper fuel as reasons for its optimism. </p> <p>Analysts had expected the upgrade and shares initially fell on Friday.</p> <p>Rival airlines Air France-<span class="caps">KLM</span> and Lufthansa have also reported good quarterly results.</p>