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IAG doubles full-year operating profit

British Airways and Iberia parent International Airlines Group more than doubled operating profit for the full year to €485 million ($653 million), before exceptional items.

The company’s pre-tax profit reached €503 million for the 12 months to 31 December 2011, including the first 21 days of January before IAG’s formal consolidation.

IAG’s revenues were up by more than 10% to €16.3 billion, although a near-30% increase took fuel costs to more than €5 billion. Other operating costs rose by 1.1% to €10.8 billion.

For the full story, visit the Flight Global website.