By Guy Taylor British Airways’ owner the IAG has said it is “well-positioned” for another busy summer, as first-quarter profit jumped sevenfold. The airline conglomerate, which also owners Aer Lingus, Iberia and Vueling, reported an operating profit of €68m (£58.5m), up from €9m the year prior. Total revenue reached €6.4bn, up from €5.9bn as the group carried 26.3m passengers, an 8.6 per cent year-on-year increase. Luis Gallego, IAG Chief Executive Officer, said: “Our transformation initiatives and increased demand, including over the Easter holidays, have delivered another very good set of re…