Economy BA owner IAG’s third-quarter profit slightly beats market estimates

BA owner IAG’s third-quarter profit slightly beats market estimates

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BA owner IAG’s third-quarter profit slightly beats market estimates

British Airways owner IAG (ICAG.L) on Friday posted a small rise in quarterly profit with results that slightly beat expectations, and said profit for 2018 would increase by 200 million euros.

Third-quarter operating profit before exceptional items came in at 1.46 billion euros ($1.66 billion), ahead of a company-compiled consensus of 1.43 billion euros and up from 1.45 billion euros last year.

IAG Chief Executive Willie Walsh said they were “strong results despite significant fuel costs and foreign exchange headwinds”.

Fuel costs for the three months to September 30 rose 15 percent, echoing comments made on Thursday by budget airline Norwegian Air (NWC.OL), which rebuffed a bid from IAG earlier in the year.

IAG’s results came the day after the group, which also owns Aer Lingus and Iberia, gave an update into the theft of customer data at British Airways.

IAG said that its investigation showed hackers may have stolen the personal information of a further 185,000 customers, taking the total number of payment cards potentially affected by the hack to 429,000.

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