Business briefs: IAG | Dart Group | Ashtead

Published on 22/06/2012 00:00

International Airlines Group yesterday upped its estimated cost savings from the merger of British Airways and Iberia that created the company.

In an update to shareholders at its annual meeting in Madrid, chief executive Willie Walsh said the firm had made “considerable progress” and had increased its target for annual revenue and cost synergies by €100 million (£80m) to €500m from 2015.

Dart happy with flight and score

DART Group, the company behind the Jet2.com airline and Jet2holidays, yesterday reported a rise in both sales and profits last year as it increased services.

In the year to 31 March, turnover increased 26 per cent to £683 million and pre-tax profits rose from £26.2m to £28.1m. The group operated 145 routes from airports, including Edinburgh and Glasgow, and flew 4.3 million passengers on scheduled services.

Ashtead benefits from rental trend

Industrial equipment hire firm Ashtead said yesterday that profit would likely be ahead of expectations this year thanks to demand from cash-strapped clients who prefer to rent rather than buy.

The process has already helped it more than quadruple full-year profit. It posted a pre-tax profit of £130.6 million for the year to 30 April, way ahead of the £31m it made the year before.