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| BA owner IAG slows growth plans after Brussels attacks | BA owner IAG slows growth plans after Brussels attacks |
| (about 1 hour later) | |
| Airline group IAG, the owner of British Airways and Iberia, has said it will temporarily slow plans to fly more routes following the Brussels attacks. | Airline group IAG, the owner of British Airways and Iberia, has said it will temporarily slow plans to fly more routes following the Brussels attacks. |
| It also said there was weaker demand from high-margin business-travellers. | It also said there was weaker demand from high-margin business-travellers. |
| IAG reported pre-tax profits of €124m (£96m) for the first quarter, compared with a loss of €37m in 2015. | IAG reported pre-tax profits of €124m (£96m) for the first quarter, compared with a loss of €37m in 2015. |
| "March revenue was affected by the timing of Easter and the Brussels terrorist attacks," said IAG chief executive Willie Walsh. | "March revenue was affected by the timing of Easter and the Brussels terrorist attacks," said IAG chief executive Willie Walsh. |
| "Revenue trends in quarter two have been affected by the aftermath of the Brussels terrorist attacks, as well as some softness in underlying premium demand. As a result, IAG has moderated its short-term capacity growth plans." | |
| Shares fell 3.2% in morning trading in London to 532p, making it the biggest faller on the FTSE 100. | |
| Operating profits at IAG - which also owns Aer Lingus and Vueling - were €155m before exceptional items, compared with €25m in 2015. | Operating profits at IAG - which also owns Aer Lingus and Vueling - were €155m before exceptional items, compared with €25m in 2015. |
| IAG said it expected fuel costs to fall by about 1% this year due to weak oil prices. | IAG said it expected fuel costs to fall by about 1% this year due to weak oil prices. |
| Profits were boosted by the purchase of Irish flag carrier Aer Lingus which was completed last September. | Profits were boosted by the purchase of Irish flag carrier Aer Lingus which was completed last September. |
| IAG has fared better than some of its European rivals - Lufthansa and Air France-KLM - which have been hit by strikes over cost-cutting plans, as well as increased competition from Middle Eastern and budget airlines. | IAG has fared better than some of its European rivals - Lufthansa and Air France-KLM - which have been hit by strikes over cost-cutting plans, as well as increased competition from Middle Eastern and budget airlines. |