BA firm reports 21m euro profit

International Consolidated Airlines Group (IAG), created by the merger of British Airways and Iberia, saw a pre-tax profit of 21m euros ($29m; £18m) for the final three months of 2010.

It said the profit came despite freezing weather in the UK and a Spanish air traffic controllers’ strike.

The result compares with a 208m euros loss in the same period a year earlier.

Unrest in the Middle East was being monitoring closely, the group added.

Shares in IAG began trading last month and the group has said it expects to save 400m euros a year by 2016.

“We are confident that we are on track to deliver our synergy targets,” said chairman Antonio Vasquez.