International Airlines Group (IAG), which brings together British Airways and Iberia Airlines, earned a gross profit of 84 million euros in 2010 and stated that the ticket prices may rise due to political instability in North Africa and Middle East.
British Airways, which increased their prices last month, announced that fares may rise again.
“We are following the impact of the current stability in the Middle East on oil prices and have the flexibility to change our capacity plans if necessary”, said IAG’s chief executive, Willie Walsh.
In its press release, IAG noted that follows very closely the current political instability in the Middle East and its impact on the crude prices.
Quarter of 2010, the business of the two airlines was much affected by the difficult weather conditions in the United Kingdom and the air controllers’ strike in Spain.
Iberia said on Friday it closed 2010 with a gross profit of 95 million euros (89 million net), compared with losses of 436 million in 2009.