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BA-owner IAG's Q1 operating profit beats expectations

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Aer Lingus and British Airways owner IAG has today reported better than expected first-quarter earnings, with an operating profit of €68m, as the group saw strong bookings and projected a busy and profitable summer.

"Our transformation initiatives and increased demand, including over the Easter holidays, have delivered another very good set of results with improvement to both revenue and operating profit," IAG chief executive Luis Gallego said in a statement.

European rivals Lufthansa and Air France-KLM reported worse than expected first quarters as they struggled with a range of issues, including consumer payouts and strikes. But many airlines have expressed hope that a record summer travel season and lower jet fuel prices will help balance their books by the end of the financial year, and IAG is no exception as it strives to capitalise on strong demand.Analysts had expected IAG to report a first-quarter operating profit of €49m, according to a company-compiled consensus of forecasts.

Business Aer Lingus British Airways IAG Luis Gallego

 

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