International Airlines Group, the parent of British Airways, reported a 35% drop in after-tax profits to 732 million euro in the second quarter, down from 1.1 billion euro a year earlier, as fuel costs and emissions charges rose 23% due to the Middle East conflict. Revenue was stable at 8,883 million euro, and the group said about 57% of seats are booked for the second half with revenue in line with last year. For the first six months, after-tax profits fell 21% to 1.0 billion euro while revenue edged up 1% to 16.1 billion euro. Chief Executive Luis Gallego said the diverse portfolio of brands including Iberia, Vueling, and Level provides resilience against near-term headwinds.
International Consolidated Airlines Group S.AFuel costs and emissions charges rose 23% due to Middle East conflict, driving a 35% profit drop.