{
  "id": 18506643,
  "title": "British Airways owner sees profits hit by soaring jet fuel costs",
  "url": "https://urgent.news/2026/11/06/british-airways-owner-sees-profits-hit-by-soaring-jet-fuel-costs",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-06T12:50:50.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/business/corporate/2026/11/1572406/british-airways-owner-sees-profits-hit-soaring-jet-fuel-costs"
  },
  "original_language": "en",
  "account": "The owner of British Airways, International Airlines Group (IAG), has announced a significant decline in quarterly earnings due to soaring jet fuel costs resulting from the Iran war. Pre-tax profits dropped by 12.9% to €1.63 billion in the three months leading up to September 30, while operating profits fell by 15.9% to €1.73 billion. Despite a 4.5% revenue increase, it was not sufficient to counterbalance the dramatic 30.4% surge in jet fuel expenses.\n\nThe rising fuel costs, alongside disruptions from Air Traffic Control outages, have dealt a heavy blow to the airline group. A significant incident at National Air Traffic Services (NATS) on September 8 resulted in over 2,000 flight cancellations, affecting hundreds of thousands of passengers.\n\nIAG anticipates that its total fuel costs for the financial year will soar to €8.9 billion, even with price-fixing measures in place. The group's chief executive, Luis Gallego, remains cautiously optimistic about the future. He stated, \"As a result of the actions we are taking, the outlook for the rest of the year, as well as the start of next year, is positive.\"",
  "summary": "LONDON: The owner of British Airways has revealed a sharp drop in quarterly earnings on surging fuel prices due to the Iran war and warned its annual fuel bill is set to jump to nearly €9 billion (US$10 billion), reported PA Media/dpa.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 5,
    "also_reported_by": [
      {
        "outlet": "Free Malaysia Today",
        "title": "British Airways parent says profit drops on higher fuel costs",
        "url": "https://urgent.news/2026/11/06/british-airways-parent-says-profit-drops-on-higher-fuel-costs",
        "published": "2026-11-06T08:03:59.000Z"
      },
      {
        "outlet": "City AM",
        "title": "Soaring fuel costs hit profit at British Airways owner IAG",
        "url": "https://urgent.news/2026/11/06/soaring-fuel-costs-hit-profit-at-british-airways-owner-iag",
        "published": "2026-11-06T08:18:45.000Z"
      },
      {
        "outlet": "The Peninsula Qatar Business",
        "title": "British Airways parent profit drops on higher fuel costs",
        "url": "https://urgent.news/2026/11/06/british-airways-parent-profit-drops-on-higher-fuel-costs",
        "published": "2026-11-06T11:22:17.000Z"
      },
      {
        "outlet": "Bernama",
        "title": "World : British Airways Owner Sees Profits Hit By Soaring Jet Fuel Costs",
        "url": "https://urgent.news/2026/11/06/world-british-airways-owner-sees-profits-hit-by-soaring-jet-fuel-costs",
        "published": "2026-11-06T11:54:51.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}