British Airways owner sees shares soar

These are the figures

Shares in International Airlines Group have soared dramatically to 5pc in early trading. This came about after the British Airways owner beat expectations by posting record profits.

Operating profit at IAG climbed 10pc to €170m in the first three months of the year.

This can be compared to 2016s figure of €155m for the same period.

Revenue fell nearly 3pc to €4.9bn. IAG said this was due to the late timing of Easter and the fall in the value of the pound which deterred travellers.

Chief executive Willie Walsh said the recent launch of IAG’s low-cost long haul airline Level had “already been extremely successful”.

He also added that if fuel prices and exchange rates remain stable, the company expects to see operating profit for the financial year to rise compared to 2016.

Walsh also believes that passenger revenue will increase in the second quarter.

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