IAG forecasts surge in profits

The owner of British Airways has said it expects profits to soar over the next four years as it benefits from its merger with Iberia.

International Airlines Group, which was formed through the merger in January, expects operating profits of €1.5bn (£1.3bn) in 2015. The figure – its first target to look this far in advance – compares to forecasts of €450m for 2011. The target does not include BMI, the regional airline IAG bought earlier this month.