BA owner IAG reassures with earnings, orders 18 Boeing jets

LONDON - British Airways owner IAG weathered rising fuel costs and air traffic control disruption to just beat expectations for its 2018 results on Thursday, and said it would order 18 Boeing 777-9 planes.

IAG reported a 9.5 percent rise in operating profit before exceptional items for the year to Dec. 31 to 3.23 billion euros , ahead of analysts’ consensus forecast for 3.16 billion, but said there would be no growth in 2019. But IAG has voiced its dissatisfaction with the performance of Rolls Royce, which makes engines for the A350 and which on Thursday also withdrew from the race to power Boeing’s mid-market plane. The 777-9 uses GE engines.

IAG, which also owns Iberia, Aer Lingus and Vueling, said passenger revenue rose 6.2 percent across the group in 2018, with passenger unit revenue up 2.4 percent. It announced a special dividend of 35 euro cents a share.

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