London. 27 Oct. INTERFAX – air Group International Consolidated Airlines Group S. A. (IAG), which includes British Airways, increased its net profit to a record in the third quarter and predicts growth in annual profit by 20%.
According to a press release from the group, its net profit in July-September increased to 1 billion euros from 930 million euros in the same period last year. Operating profit increased by 21 per cent to 1.46 billion euros.
Revenue grew by 2% to 6.62 billion euros, revenue per passenger increased by 2.2%.
The company expects to record annual operating profit, the figure may reach 3 billion euros. The third quarter is traditionally the most profitable for airlines.
However, IAG has documented the costs of restructuring the Spanish unit Iberia in the amount of 180 million euros in the last quarter.
This year began flights of a new budget carrier Level, based in Barcelona. The company, including, flies across the Atlantic.
According to CEO of IAG William Walsh, Level plans to expand its network of flights from the US to Europe and could increase its fleet to 30 by 2022.
Shares of IAG fell during the auction by 3.9%, the capitalization of the company is 13,75 billion pounds ($18.1 billion).
In addition to British Airways and the IAG owns Iberia and Spanish budget airlines Vueling and Aer Lingus. Park group of companies is 547 aircraft servicing 268 destinations worldwide and annually carrying more than 100 million people.