British Airways (BA) owner International Airlines Group (IAG) has reported a big jump in quarterly profits.

IAG reported a 25% rise in pre-tax profits to £315m for the three months to 30th June.

Chief executive Willie Walsh told the BBC's Today programme the results 'reflect the underlying strength of the airlines'.

IAG is in the process of buying Irish carrier Aer Lingus.

The group is still waiting for approval from stakeholder Ryanair, which Mr Walsh is confident they will receive.

The company said that at current fuel prices and exchange rates, IAG's outlook remains unchanged.

Since the formation of IAG through the merger of BA and Iberia in 2011, Iberia has been undergoing a massive restructuring programme, with jobs and salaries being cut.

source: BBC News