LONDON: British Airways-owner IAG reported a quarterly profit, swinging into the black from a seasonal loss for the first time, helped by lower fuel costs and an improvement in performance across its three airlines.
The airline group, which is in the process of trying to acquire Aer Lingus to expand its stable of carriers, on Thursday reported an underlying operating profit of 25 million euros ($28 million) for the three months ended March 31.
That compared to the loss of 150 million euros it made last year and an analyst consensus forecast for a loss of 3 million euros.
European airlines tend to report a loss in the first quarter of the year when fewer customers fly.
