International Consolidated Airlines Group, parent company to British Airways and Iberia, on Friday reported a fourth-quarter profit of €138 million,

up from €25 million in the fourth quarter of 2013. Capacity increased 5.8 percent year over year during the quarter, and traffic increased 6.4 percent; load factor increased 0.5 percentage points to 79.5 percent. Passenger revenue per available seat kilometer increased 4.7 percent, and cost per available seat kilometer increased 1 percent. For the full year, IAG's profit was €868 million, more than double its profit in 2013. Iberia turned a profit of €50 million for 2014 compared with a loss of €166 million in 2013, which IAG CEO Willie Walsh called a "remarkable" turnaround "both financially and operationally."