British Airways parent profit drops on higher fuel costs
IAG, the owner of British Airways and Iberia, said Friday that its net profit dropped more than 12 percent in the third quarter on soaring fuel costs and flight disruptions caused by the Middle East conflict. The group said its overall flight capacity had been hit "by cancellations due to the conflict in the Middle East,...
Key Takeaways
- IAG, the owner of British Airways and Iberia, said Friday that its net profit dropped more than 12 percent in the third quarter on soaring fuel costs and flight disruptions caused by the Middle East conflict.
- The group said its overall flight capacity had been hit "by cancellations due to the conflict in the Middle East, together with aircraft availability linked to engine issues and disruption related to air traffic control disruption".
- Full details and original dispatch available below.
IAG, the owner of British Airways and Iberia, said Friday that its net profit dropped more than 12 percent in the third quarter on soaring fuel costs and flight disruptions caused by the Middle East conflict. The group said its overall flight capacity had been hit "by cancellations due to the conflict in the Middle East, together with aircraft availability linked to engine issues and disruption related to air traffic control disruption".
Original Publisher Attribution
This summary was curated from Economic Times.