Economy

Aer Lingus owner records a 75% jump in quarterly profit

Aer Lingus owner records a 75% jump in quarterly profit

Shares in International Consolidated Airlines (LON:IAG) have jumped almost five percent in London this morning as the British Airways and Iberia parent posted a rise in quarterly profits, having benefitted from currency tailwinds.

European stock markets rose at the open on Friday awaiting key United States jobs data, while British Airways-parent IAG shot to the top of the London stock market on soaring profits.

IAG, which confirmed its position as one of Europe's strongest airline groups on Friday with a 75 per cent jump in quarterly profit, said it had held talks but could not reach an agreement with low-priced carrier Norwegian on a deal.

Back for more: Tiger Woods thankful for return to competitive golf
While Woods took a break from swinging a club after the Masters , he used the down-time to work on his physical fitness. While tournament officials are noncommittal about a return to Wilmington, the players seem open to it.

"The Board of Norwegian Air Shuttle (NAS) confirms that it has received two separate conditional proposals from IAG Group in relation to an acquisition of 100 percent of the share capital of NAS".

IAG appeared happy to wait before making its next move. "I wouldn't be surprised to see a few of these weaker carriers slip further into difficulties and potentially see some exits from the market in the latter part of this year". Willie Walsh, CEO of IAG, denied that any formal offers had been presented to Norwegian. When asked by an analyst whether loss-making Norwegian could execute its current growth programme as a standalone business, he replied "no".

IAG had last month bought a 4.6% stake in Norwegian with a view to starting takeover discussions but it said on Friday that it had been unable to reach agreement and was "currently considering its options" over the airline.

Google Assistant now connects to over 5000 smart home devices
And we're working closely with partners to build the Assistant into the next generation of TVs available later this year. Entertainment queries and commandsincreased more than 400 percent in the last six months.

Norwegian said in April that a number of groups had made advances since IAG had bought its stake earlier in the month. Shares in IAG, which reported earnings on Friday, surged 4.5%. They were down by almost 10 percent by mid-morning, but still up 61.2 percent from last month before IAG put the stock into play.

Looking ahead, the company still expects its operating profit for 2018 to show an increase year-on-year. Share value recovered later in the morning, down 7.78 percent to NOK 277.30 just before 11am, but was down 9.78 percent just after, to NOK 271.30, an hour later.

The group said the 75% rise in quarterly profit was helped by a 58 million euro net foreign exchange benefit, plus an improving passenger unit revenue trend and after its costs excluding fuel fell.

Japan has no plan to move embassy to Jerusalem
Abe is now on a Middle East tour and is set to meet with Israeli Prime Minister Benjamin Netanyahu on Wednesday. Abe is accompanied by his wife and a delegation of senior Japanese business leaders.


  • Liverpool can surprise Real Madrid in Champions League final, says Phil Thompson

    Liverpool can surprise Real Madrid in Champions League final, says Phil Thompson

    The hosts missed a string of second-half chances as Liverpool sat back and invited pressure onto themselves. Salah was instrumental in the Anfield victory scoring twice and providing an assist.
    Deadly Dust Storm and Thundershowers Kill at Least 110 in India

    Deadly Dust Storm and Thundershowers Kill at Least 110 in India

    At least 90 people were killed as squalls and dust storms tore across parts of northern India , weeks ahead of the monsoon rains. The storm also reached the capital of Delhi , almost 100 km (62 miles) away, along with heavy rains late Wednesday evening.
    ZTE and Huawei phones banned for sale at military bases: Pentagon ordered

    ZTE and Huawei phones banned for sale at military bases: Pentagon ordered

    Technology retailers selling to on-base United States military personnel can not sell phones from Huawei or ZTE anymore. The Pentagon declined to provide the technical details of potential threats.
  • Wenger reacts to Arsenal's painful exit from Europa League

    Wenger reacts to Arsenal's painful exit from Europa League

    Asked about Koscielny's chances of recovering in time for the World Cup, Wenger said: "That depends on the scan". The hosts continued to threaten with Costa and Griezmann up front and had a few good chances to make it 2-0.
    Woods will use new set of irons

    Woods will use new set of irons

    The American's last start was the Masters, where he tied for 32nd place after starting the event as one of the favorites. But he's tied for 34th after the first round, and even with poor putting, his ball striking will keep him in the hunt.
    Owners of explosion site were divorcing

    Owners of explosion site were divorcing

    Police sent a tactical team to the North Haven residence after learning that a man was reportedly barricaded inside the residence. A number of officials were discharged Thursday afternoon following a stand off and explosion in North Haven on Wednesday night.
  • Day of Prayer Thursday at courthouse

    Day of Prayer Thursday at courthouse

    Local religious leaders led the group of about 50 people in a series of prayers centering on this year's theme of "Unity". The National Day of Prayer was instituted in 1863 in the midst of the Civil War, the bloodiest war in American history.
    Kerala SSLC Results 2018 to be Declared Today, Check at keralapareekshabhawan

    Kerala SSLC Results 2018 to be Declared Today, Check at keralapareekshabhawan

    According to reports, Education Minister Ravindranath will hold a press conference at 10.30 a.m. SSLC students can check the results at various websites on which the results will be released.
    National Football League  player Reid files lawsuit over anthem

    National Football League player Reid files lawsuit over anthem

    Earlier in the offseason, Reid said he would stop kneeling during the anthem because the narrative around kneeling has changed. The 6-foot-1 safety totaled 67 tackles and 2 interceptions last season for the San Francisco 49ers.
  • Local elections: Wyre Forrest - Conservative hold

    Local elections: Wyre Forrest - Conservative hold

    The balance between between managing expectations in the capital and setting stretching campaign targets was tricky. There was a shift at the general election and we have seen party membership grow at a pretty incredible rate.
    Celine Dion and Diplo headline a star-studded Deadpool 2 soundtrack

    Celine Dion and Diplo headline a star-studded Deadpool 2 soundtrack

    Dion managed to keep a straight face throughout the video, but that was not exactly what the masked vigilante wanted from her. The movie will be available in theatres, but we get a little bit of Deadpool himself in the official video of the song.
    Jay-Z Receives Investigative Subpoena from the SEC

    Jay-Z Receives Investigative Subpoena from the SEC

    Carter has wide-ranging business interests from the music industry to his streaming service Tidal to a sports management company. The SEC is now filing a subpoena enforcement action against Jay-Z for testimony to inquire about his joint venture with Iconix.