Thursday, 6 October 2011

Full profit forecast for International Airlines Group

There is to be good news for International Airlines Group (IAG) as they are forecast to deliver full year growth after an excellent September. Traffic in September 2011 rose by 4.3% compared to September 2011 with a 9.3% rise in first and business class travel during this period also.

IAG is forecast to make profits of €544m in 2011. Despite the strong forecasts, IAG is cautious over October which has traditionally been seen as a sluggish month.

There could be more worrying news for its transatlantic partner American Airlines as there is talk that the airline could be headed for bankruptcy. The poor results have been blamed on huge labour costs which have spiralled for the airline.

Watch this space..

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