IAG REPORTS €71 MILLION HALF-YEAR PROFIT

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By TESTCustomwebLP TESTCustomwebLP August 1, 2011 08:24

IAG REPORTS €71 MILLION HALF-YEAR PROFIT

International Airlines Group, parent of British Airways and Iberia, has posted a net profit of €71 million for the 2011 first half. This is a reversal from the €352 million net deficit reported by British Airways in the first six months of 2010. The group is on target to deliver its year one synergies, according to CEO Willie Walsh.

The strong half-year result is despite the cost of fuel rising 34% year-over-year to €2.44 billion. The Japan crises and unrest in North Africa and the Middle East is expected to have a negative impact on operating profit for the full year of €90 to €100 million, says the airline group.

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By TESTCustomwebLP TESTCustomwebLP August 1, 2011 08:24
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