British Airways owner IAG reported operating profit and revenue ahead of expectations on Friday, posting a record first-quarter performance in what is usually the weakest part of the year.
First-quarter operating profit before exceptional items came in at 170 million euros (144.6 million pounds), up 9.7 percent, well ahead of a Reuters forecast of 140.5 million euros.
Total revenue was 4.93 billion euros, down 2.8 percent but again slightly ahead of expectations.
"This is a record performance in Q1, traditionally our weakest quarter, with the improving trend in passenger unit revenue continuing," said chief executive Willie Walsh.
There was an adverse currency exchange impact of €32 million euros in the quarter, due to the translation of sterling profit into euros, the group said.
(Reporting by Alistair Smout, Editing by Paul Sandle)