IAG reports 65% profit growth for 2015
IAG reported a 65% rise in annual profit at E2.3b and said for 2016 it expected a further profit increase as it benefits from lower fuel costs. The group forecast a more than E900m (US$991m) or 40% profit rise this year as CE Willie Walsh said he planned to steer the group towards further growth. IAG will this year benefit from lower fuel prices, a long-term strategy of reducing costs and growing demand for travel. But the company faces uncertainty in the shape of volatile currencies, Britain's June vote on leaving the EU, and pressure on ticket prices from increased competition in Europe and on transatlantic routes. Walsh said IAG was well positioned to grow in spite of those headwinds. "Clearly it will be a challenging environment but the good news is that we're very confident in terms of our performance," Walsh said. <br/>
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IAG reports 65% profit growth for 2015
IAG reported a 65% rise in annual profit at E2.3b and said for 2016 it expected a further profit increase as it benefits from lower fuel costs. The group forecast a more than E900m (US$991m) or 40% profit rise this year as CE Willie Walsh said he planned to steer the group towards further growth. IAG will this year benefit from lower fuel prices, a long-term strategy of reducing costs and growing demand for travel. But the company faces uncertainty in the shape of volatile currencies, Britain's June vote on leaving the EU, and pressure on ticket prices from increased competition in Europe and on transatlantic routes. Walsh said IAG was well positioned to grow in spite of those headwinds. "Clearly it will be a challenging environment but the good news is that we're very confident in terms of our performance," Walsh said. <br/>
