British Airways and Iberia parent International Airlines Group posted a second-quarter operating profit of €245 million,

swinging from a €4 million loss for the same period last year. Passenger revenue for the three months ending June 30 grew nearly 6 percent year over year, with capacity up 4.2 percent and passenger traffic increasing 4 percent. The airline group posted a 2 percent increase in yield, a representation of fare per mile. IAG chief executive Willie Walsh said "the benefits of Iberia’s restructuring," which include headcount reductions, "are beginning to show." He added that "the first step in the restructuring…is already bearing fruit with Iberia’s losses down from €93 million last year to €35 million, reversing the negative trend of the last 11 quarters.” BA, meanwhile, contributed a €247 million operating profit, up from €94 million in 2012. "The London market and transatlantic traffic remains strong, legacy costs from the BMI integration have ended and the airline remains focused on cost control," according to Walsh.