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BA and Iberia owner IAG raises profit outlook

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By Euronews
BA and Iberia owner IAG raises profit outlook

IAG, 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.

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.

The group, which also owns Vueling, cites strong demand for summer travel and cheaper fuel as reasons for its optimism.

Analysts had expected the upgrade and shares initially fell on Friday.

Rival airlines Air France-KLM and Lufthansa have also reported good quarterly results.