British Airways owner issues profit warning over soaring jet fuel costs

International Airlines Group expects to spend £1.7bn more on fuel than planned since US-Israeli attack on Iran

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The parent company of British Airways has issued a profit warning and said it expects to spend about €2bn (£1.72bn) more on fuel than planned this year due to the Iran war.

International Airlines Group (IAG), which also owns Aer Lingus, Iberia and Vueling, said it has hedged 70% of its expected fuel use for this year with costs expected to be about €9bn, up from previous forecasts of €7.1bn.