British Airways owner's profit dips on softer US demand
The Peninsula
London: IAG, owner of British Airways and Spanish carrier Iberia, said Friday its net profit had dipped in the third quarter on a softer US market and...
London: IAG, owner of British Airways and Spanish carrier Iberia, said Friday its net profit had dipped in the third quarter on a softer US market and European competition.
Profit after tax eased 2.3 percent to 1.4 billion euros ($1.6 billion) compared with the July-September period last year, the group said in a statement.
"Overall it was a good performance, on top of a record third quarter in 2024," IAG said.
"As expected the North Atlantic market saw some softness," noted IAG, adding that earnings were impacted also by increased competition forcing it to lower European airfares.
Total revenue was flat at 9.3 billion euros.
