AFP, London :
International Airlines Group, the owner of British Airways and Iberia, announced surging annual profits Friday thanks to sliding fuel prices and a turnaround at its Spanish unit.
IAG reported a profit after tax of 982 million euros for last year compared with net profit of 122 million euros in 2013, the company hoping to buy Irish carrier Aer Lingus said in an earnings statement.
IAG chief executive Willie Walsh said the business was lifted by “increased productivity, supplier cost savings … boosted by the introduction of more efficient aircraft into our fleet and lower fuel prices in the last quarter of the year”.
Spanish unit Iberia meanwhile made an annual operating profit of 50 million euros compared to an operating loss of 166 million euros in 2013.
International Airlines Group, the owner of British Airways and Iberia, announced surging annual profits Friday thanks to sliding fuel prices and a turnaround at its Spanish unit.
IAG reported a profit after tax of 982 million euros for last year compared with net profit of 122 million euros in 2013, the company hoping to buy Irish carrier Aer Lingus said in an earnings statement.
IAG chief executive Willie Walsh said the business was lifted by “increased productivity, supplier cost savings … boosted by the introduction of more efficient aircraft into our fleet and lower fuel prices in the last quarter of the year”.
Spanish unit Iberia meanwhile made an annual operating profit of 50 million euros compared to an operating loss of 166 million euros in 2013.
