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IAG Q3 profit climbs 22.5% YOY

International Consolidated Airlines Group SA said its normalized net income for the third quarter amounted to €897.5 million, a gain of 22.5% from €732.5 million in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 13.6% from 11.3% in the year-earlier period.

Total revenue increased year over year to €6.62 billion from €6.49 billion, and total operating expenses fell year over year to €5.17 billion from €5.25 billion.

Reported net income came to €1.00 billion, compared with €930.0 million, or 42 cents per share, in the year-earlier period.