LONDON: IAG, which owns British Airways and Spanish carrier Iberia, said Friday that full-year net profit gained only slightly, as restructuring costs offset benefits from the demise of smaller rivals.

Profit after tax grew 3.6 percent to 2.0 billion euros ($2.5 billion) in 2017 from a year earlier, the owner also of Irish airline Aer Lingus and Spanish carrier Vueling said in an earnings statement.

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