IAG third quarter profit soars as Iberia improves

International Airlines Group said third quarter profit more than doubled as its Spanish carrier Iberia started to show signs [http://www.maximumgoo74.com page] of recovery, adding to another strong performance from British Airways.<br><br>IAG, the parent of BA and Spanish carriers Iberia and Vueling, on Friday reported an operating profit of 690 million euros ($923.40 million) in the three months to end-Sept, compared to a profit of 270 million in the same period a year ago.<br><br>IAG was expected to report a third quarter operating profit, before exceptional items, of 600 million euros, according to a company-supplied consensus forecast.<br>Third quarter revenues rose 6.9 percent to 5.4 billion euros.<br>Including the third quarter, the airline group made an operating profit of 657 million euros in the first nine months of 2013.<br>It expects to report a full-year operating profit of around 740 million euros, said chief executive Willie Walsh.<br><br>The airline said the benefits of restructuring at Iberia were beginning to bear fruit with third quarter profit at the carrier rising to 74 million euros from 1 million in the same period a year ago at the Spanish carrier.<br>BA made a third quarter operating profit of 477 million euros, up from 268 million a year ago.