IAG’s Q3 net profit up 12pc to €1.1b

LONDON: IAG, owner of several airlines including British Airways and Spanish carrier Iberia, said yesterday its net profit rose 12 per cent in the third quarter despite higher fuel costs. Profit after tax grew to €1.1 billion (RM5.22 billion) in the three months to September, compared with the third quarter a year earlier. Chief executive Willie Walsh praised the results which came “despite significant fuel cost and foreign exchange headwinds”.