LONDON: British Airways owner IAG, close to sealing its takeover of Aer Lingus, reported a forecast-beating 40% rise in quarterly profit, which it said put it on track to meet its annual target.
IAG on Friday declared its offer for Aer Lingus unconditional as to acceptances after it waived a 90% acceptance condition.
The airline group, which also operates the Iberia and Vueling brands, on Friday posted operating profit of 530 million euros in the three months ended June 30, ahead of a company-supplied consensus forecast of 494 million euros.
IAG's 1.3-billion-euro takeover of Aer Lingus is now close to be finalised after an eight-month process, having been approved by European competition regulators and won the backing of the two biggest Aer Lingus shareholders, the Irish government and Ryanair. - Reuters
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