for subscribers

British Airways owner IAG posts record profit

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!

London - British Airways-owner  IAG SA posted record first-quarter earnings as expenses fell and joined Air France-KLM Group in signaling that increased demand from business travelers is poised to boost prices.

Operating profit before one-time items rose 9.7% to €170m, aided by lower labour and fuel costs, IAG said on Friday. A slide in fares slowed, paving the way for what should be the first gain in three years in the second quarter and propelling the group toward higher full year earnings.

IAG’s performance indicates that concerns about over-capacity are fading among European carriers, after Air France-KLM also reported a strong start to 2017 on Thursday.

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
ZAR/USD
16.61
(+0.66)
ZAR/GBP
21.40
(+0.92)
ZAR/EUR
19.51
(+0.49)
ZAR/AUD
11.94
(+0.34)
ZAR/JPY
0.16
(+0.77)
Gold
1908.33
(+1.11)
Silver
23.96
(+2.62)
Platinum
899.68
(+1.09)
Brent Crude
42.12
(+1.78)
Palladium
2316.28
(+1.04)
All Share
54446.78
(+0.34)
Top 40
50159.14
(+0.23)
Financial 15
10158.72
(+0.86)
Industrial 25
73766.43
(+0.79)
Resource 10
53032.08
(-0.66)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 1402 votes
It depends on how the funds are used.
73% - 9090 votes
No. We should have gotten the loan elsewhere.
16% - 1998 votes
Vote