STORY: IAG's shares flew up more than 8% on Friday.
The British Airways owner posted second-quarter profit of $1.34 billion, easily beating market expectations.
IAG's numbers outshone rivals like Lufthansa and Air France, which delivered profit warnings.
Numerous airlines struggled during the second-quarter due to rising costs and a slow down in demand.
The airline group also announced this week it had ended its proposed takeover of Spain's Air Europa.
CEO Luis Gallego said Thursday the deal was no longer in shareholders' interests.
It comes after the European Commission said IAG's proposed concessions for the takeover weren't enough.
IAG announced last year it would buy out the 80% of Air Europa it did not already own for more than $430 million.
Some analysts weren't happy the Air Europa deal was dropped as they wanted more industry consolidation.
But there was still optimism for some market watchers about the group's strategy for the remainder of the year.
