Airline group IAG profit rises on Iberia recovery

Willie Walsh

British Airways owner International Airlines Group reported a 55pc rise in second-quarter profit driven by a recovery at Spanish airline Iberia and signalled its confidence in the carrier with plans to renew its long-haul fleet.

Iberia, which has undergone a deep restructuring to cut staff and costs, will start receiving eight Airbus A350-900s and another eight A330-200 aircraft next year, IAG said today.