x

Abu Dhabi, UAESaturday 17 November 2018

BA owner IAG's third-quarter profit slightly beats market estimates

IAG says profit for 2018 would increase by 200 million euros

British Airways planes at Heathrow Terminal 5 in London. British Airways parent IAG said adjusted operating profit beat analyst estimates. REUTERS/Neil Hall/File Photo
British Airways planes at Heathrow Terminal 5 in London. British Airways parent IAG said adjusted operating profit beat analyst estimates. REUTERS/Neil Hall/File Photo

British Airways owner IAG on Friday posted a small rise in quarterly profit with results that slightly beat expectations and said profit for 2018 would increase by 200 million euros.

Third-quarter operating profit before exceptional items came in at 1.46 billion euros (Dh6.1bn), ahead of a company-compiled consensus of 1.43bn euros and up from 1.45bn euros last year.

IAG chief executive Willie Walsh said they were "strong results despite significant fuel costs and foreign exchange headwinds."

__________________

Read more:

British Airways and Air France suspend flights to Tehran

British Airways owner IAG misses profit forecasts and shares drop

__________________

Fuel costs for the three months to September 30 rose 15 per cent, echoing comments made on Thursday by budget airline Norwegian Air, which rebuffed a bid from IAG earlier in the year.

IAG's results came the day after the group, which also owns Aer Lingus and Iberia, gave an update into the theft of customer data at British Airways.

IAG said that its investigation showed hackers may have stolen the personal information of a further 185,000 customers, taking the total number of payment cards potentially affected by the hack to 429,000.

Cathay Pacific, a British Airways partner at the Oneworld alliance of global airlines, said on Wednesday a hacker has accessed the personal data of 9.4 million passengers but found no evidence that the information had been misused.