×

BA-owner IAG forecasts double-digit rise in full-year operating profit

LONDON, July 28 (Reuters) - British Airways owner IAG said on Friday that it expects operating profit for 2017 to show a double-digit percentage improvement following a strong second quarter, despite a massive power outage which grounded some flights.

IAG said that operating profit for the six months to June 30 was 975 million euros, up 37.3 per cent compared to the previous year.

The company said that non-fuel unit costs before exceptional items were up, including the financial impact of a massive power outage which grounded flights at Heathrow and Gatwick over a holiday weekend in May.

Passenger unit revenue rose 1.5 percent in the quarter, delivering its first year-on-year increase in quarterly revenue per passenger mile flown since 2014. (Reporting by Alistair Smout; editing by Kate Holton)