IAG doubles profit in its first year

IAG said profit doubled in the first year of its formation from a merger of British Airways and Spain’s Iberia, spurred by demand for business travel on BA’s North Atlantic routes.

29th February, 2012
IAG doubles profit in its first year
Dubliner Willie Walsh heads up IAG.

International Consolidated Airlines Group said profit doubled in the first year of its formation from a merger of British Airways and Spain’s Iberia, spurred by demand for business travel on BA’s North Atlantic routes.

IAG had an operating profit of €485 million last year, compared with a pro forma €225 million in 2010, the London-based company said in a statement today. That surge masked losses at Iberia, which has its hub...

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