Aer Lingus and British Airways-owner IAG today posted a 75% jump in quarterly profit, boosted by favourable currency movements.
But the airline's earnings statement that made no reference to the group's potential takeover of low-cost competitor Norwegian.
IAG, which also owns the Iberia and Vueling airlines, acquired a 4.6% stake in struggling Norwegian in April with a view to starting takeover discussions.
The group said the 75% rise in quarterly profit was helped by a €58m net foreign exchange benefit, plus an improving passenger unit revenue trend and after its costs excluding fuel fell.
IAG reconfirmed its outlook for the year, stating that at current fuel prices and exchange rates it continues to expect 2018 operating profit to show an increase year-on-year.
In the first three months of the 2018, operating profit before exceptional items came in at €280m, beating an analyst consensus forecast of €206m.
The consensus forecast was derived from a range of between €70-310m according to an analyst note, with the spread reflecting uncertainty over currency and fuel impacts.
IAG's move for Norwegian came after Norwegian had to issue new shares in March to try to shore up its balance sheet and help it weather higher costs and deepening losses as it gambles on a huge expansion of its low-cost long-haul business.
IAG was built up by M&A but over the last year its rival Lufthansa has been at the forefront of consolidation in Europe, snapping up Brussels Airlines and parts of insolvent Air Berlin to gain exposure to the competitive low-cost market.
Norwegian said in late April that a number of groups had made advances since IAG bought its stake earlier in the month.
