May 4, 2018 / 6:10 AM / a year ago

British Airways-owner IAG profit jumps, silent on Norwegian

LONDON, May 4 (Reuters) - British Airways-owner IAG posted a jump in quarterly profit, boosted by favourable foreign exchange movements, in an earnings announcement that made no reference to the group’s potential takeover of low-cost competitor Norwegian.

IAG reported operating profit before exceptional items of 280 million euros ($335 million) in the three months ended March 31, beating an analyst consensus forecast of 206 million euros, and a 75 percent rise on the 160 million euros it made in the same period last year.

IAG, which also owns Iberia, Aer Lingus and Vueling, acquired a 4.6 percent stake in struggling Norwegian in April with a view to starting takeover discussions. ($1 = 0.8349 euros) (Reporting by Sarah Young, editing by James Davey)

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