British Airways Parent IAG Doubles Profit on Spanish Reforms

British Airways parent International Consolidated Airlines Group SA doubled third-quarter earnings and lifted the full-year outlook as it squeezes value from Spanish arm Iberia and the U.K. unit taps a trans-Atlantic boom.

IAG had an operating profit of 690 million euros ($925 million) before one-time items, versus 270 million euros a year earlier, Europe’s No. 3 airline group said today in a statement. That beat the 651 million-euro average estimate of four analysts.