Iberia met analyst forecasts as it swung to a nine-month net profit from steep losses a year ago, thanks to a recovery in business travel on long-distance flights and strict cost control.
Net profit for the Spanish airline, which is merging with British Airways, reached €53 million, while revenues grew 7 per cent to €3.57 billion.
Operating losses narrowed to €1 million from a record loss a year ago in the nine months, but it swung to an operating profit of €71 million in the third quarter.
BA is also reporting third-quarter results today.
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Rival Lufthansa said yesterday it expected business to remain strong into 2011 after demand for international premium class travel and cargo services improved in the third quarter.
Reuters