IAG Posts Rise In Q4 Profit, Lifts Profit Outlook

International Consolidated Airlines Group ICAGY reported a rise in its net profit for the fourth quarter and lifted its 2015 profit outlook. IAG's net income for the fourth quarter climbed to EUR309 million ($346 million), versus a year-ago profit of EUR70 million. Adjusted profit surged to 138 million euros from 25 million euros. Its sales gained 9.9% to EUR5 billion, while operating profit surged to EUR260 million. Full-year operating profit climbed to 1.029 billion euros, versus 527 million euros. Operating profit, before exceptional items, came in at 1.39 billion euros. Passenger revenue increased to 17.825 billion euros from 16.158 billion euros, while cargo revenue declined 7.5% for the year. IAG now projects operating profit for 2015 in excess of 2.2 billion euros. IAG shares fell 0.71% to close at $43.09 yesterday.