Aer Lingus owner IAG boosts profits amid travel chaos and fares bolstered by cancellations

IAG's latest earnings reports showed them return to the black on Friday, as cancellations cut capacity but bolstered fares. 

CEO of Aer Lingus Lynne Embleton: Demand in recent months led in particular by its southern European or 'leisure' routes.  

Summer travel chaos is providing a perverse boost to the fortunes of the battered European airlines, with Aer Lingus-owner IAG returning to profit after tapping higher fares amid major cancellations and booming demand. 

IAG, which also owns British Airways, Vueling, and Iberia, along with Air France-KLM returned to the black, their latest earnings reports showed on Friday, as cancellations cut capacity but bolstered fares.