LONDON: IAG, owner of British Airways and Spanish carrier Iberia, said today its net profit dipped in the third quarter (Q3) due to a softer US market as well as European competition.
Profit after tax eased 2.3% to €1.4 billion (US$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 Q3 in 2024,” IAG noted.
“As expected the North Atlantic market saw some softness… and unit prices across our airlines were lower in the European market,” it said.
Total revenue was flat at €9.3 billion.
Chief executive Luis Gallego said IAG remains “on track to deliver another year of growth in revenues, profit and shareholder returns”.