International Airline Group, which combines British Airways and Spain's Iberia, has reported a profit of 33 million euros ($48 million) for the first three months of the year.
The company said Friday that the two airlines had a combined loss of 243 million euros a year ago, before the merger. Revenue rose 15 percent.
It was the first earnings report for the company, launched on Jan. 21.
Chief Executive Willie Walsh says the group reduced controllable costs — excluding fuel — by 5 percent.
The group says the number of passengers choosing premium services rose 12 percent compared to a year ago.
The company's shares were up 2.8 percent at 252.8 pence on the London Stock Exchange.
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