BA parent company IAG’s profits down more than a third after fuel cost hit

British Airways’ parent company International Airlines Group has revealed a slump in profits (Stefan Rousseau/PA) - (PA Wire)

British Airways’ parent company International Airlines Group (IAG) has revealed a slump in profits of more than a third because of soaring fuel costs.

The group reported pre-tax profits tumbling to 995 million euro (£852 million) in the three months to the end of June, from 1.5 billion euro (£1.3 billion) a year earlier.