International Airlines Group has reported a second quarter profit in the three months to June 30.
The owner of British Airways and Iberia achieved an operating profit of €245m (£214m).
This compares to a loss of £4m in the second quarter of 2012 and is much-improved on the airline’s own forecast of €163m profit.
BA saw its operating profit soar to €247m in the quarter, up from €94m the previous year.
Iberia also showed an improved performance, posting losses of €35m, compared to €93m in the same period last year.
However, IAG’s pre-tax loss for the first half of the year grew from €358m in 2012 to €506m, mainly because of restructuring costs at Iberia.
IAG chief executive Willie Walsh said Spanish carrier’s restructuring was "already bearing fruit".
Passenger revenue was up 14%, to €7.498bn; while total revenue was up 2.1% to €8.707bn.
IAG plans to increase capacity by 5.2% this year, following its acquisition of Vueling.
Walsh added: "The London market and transatlantic traffic remains strong, legacy costs from the BMI integration have ended and the airline remains focused on cost control."
