International Airlines Group (IAG), the owner of British Airways, has reported an increase in 2014 annual pre-tax profit to €828 million (£601 million).
The airline group said profits were improved after the introduction of more efficient aircrafts and lower fuel prices. Their operating profits nearly doubled to just more than €1 billion and raised their outlook for this year by 20%.
The group, who also owns the Spanish airlines Iberia and Vueling, launched a €1.36 billion takeover bid for Irish airline Aer Lingus, but it gave no further details on the progress of the takeover in its results statement.
IAG chief executive Willie Walsh said: "I'm very much focused on the fantastic results that we've announced today and looking forward to developing IAG with the existing airlines and with opportunities to expand with other airlines."
