26.2% fall in profit at IAG for Q3 but airline looking good for full year

International Airlines Group (IAG) has reported a 26.2% fall in third-quarter consolidated net profit to €267 million ($366 million), from €362 million for the same period last year. The airline blamed fuel costs for the decline. Operating profit was €351 million, down 33.5% from €528 million last year. IAG posted a net income of €338 million for the nine months to 30th September 2012, from €10 million last year. Revenue rose 11.6% to €12.26 billion and operating costs were up 10.3% to €11.88 billion after exceptional items of €68 million. Operating profit after exceptional items was up 74.9% to €383