International Airlines Group has reported a 30% jump in third-quarter profit and raised its forecast for the year, in contrast to the British Airways-owner's strike-hit rivals.
IAG's operating profit before exceptional items for the three months ended 30 September was €900m, up from €690m a year earlier and beating analyst expectations of €879m.
The company said it now expected to increase this year's operating profit by between €550m and €600m from the €770m it made last year, upping its previous forecast for an increase of at least €500m.
The rise in profit was driven by tight cost control at both IAG's British Airways and Iberia units, IAG said, helped by the introduction of new more fuel-efficient aircraft.
The increased profit outlook from IAG, which also operates Spain-based budget airline Vueling, contrasts with updates from Germany's Lufthansa and Air France-KLM.
Lufthansa yesterday lowered its profit guidance for 2015 for the second time this year due to a stuttering global economy and increased competition.
Air France said on Wednesday that a costly strike and a dip in fourth-quarter demand would shave €500m off its 2014 core earnings.
Both Lufthansa and Air France are under pressure to expand their low-cost operations and reduce costs to compete better with budget carriers such as easyJet and Ryanair.
By contrast, IAG benefits from operating Vueling, which contributed €140m to group operating profit in the third quarter.
Shares in IAG, Europe's biggest airline by market capitalisation, have outperformed over the last three months, posting a 16% gain against a 20% fall in Lufthansa's stock and a 22% drop in Air France's shares.
