The parent company of British Airways and Iberia posted a €151 million full-year 2013 profit after taxes,

swinging from a €658 million loss in 2012. Passenger revenue for International Airlines Group rose 5.8 percent on a 5.8 percent increase in traffic and a 5.2 percent rise in capacity. Passenger yield, a representation of fare per mile, remained flat from 2012 levels. CEO Willie Walsh in a statement noted that “Iberia has made huge progress on cost control as its restructuring takes shape," while British Airways "continued its solid revenue performance this year and we’re seeing cost improvement."