Rising fuel costs dent IAG profits

International Airlines Group’s (IAG) profit before tax for the first three months of 2019 fell €86 million from €885 million reported in the same period last year. The group, which owns British Airways among others, cited the decline on rising costs relating to staff, fuel and engineering. However, the 2018 figure included a one-off €678 million saving from closing two pension schemes. Total revenue increased 5.9% to €5.3 billion as the group’s airlines carried 24.4 million people, an increase of 6.2%. However, IAG posted a 60% drop in first quarter operating profit before exceptional items, to €135 million. In a