British Airways parent IAG posts 81% surge in 2014 profit

Paris

PROFIT at International Airlines Group, the parent company of British Airways, leapt by 81 per cent last year, bolstered by strong passenger demand on its key routes across the Atlantic and a turnaround at its once-struggling Spanish carrier, Iberia.

The group, also known as IAG, said on Friday that it had an operating profit before exceptional items in 2014 of 1.39 billion euros (S$2.12 billion), on revenue of more than 20 billion euros. That was up sharply from the year-earlier operating profit of 770 million euros on revenue of 18.7 billion euros. Net profit for 2014 surged to 1 billion euros, from 527 million euros the year before.