BA owner IAG returns to profit


BA owner IAG returns to profit

Sunday, 05 May, 2023 0

British Airways parent IAG is back in the black.

It saw a quarterly January to March airline profit for the first time since 2019.

It made €9m (£7.9m) in operating airline profit.

It cites higher yields with lower fuel costs for the turnaround.

It lost £660m during the period in 2022.

Overall, it was a better than expected result.

It says transatlantic routes to both North and South America have recovered to pre-pandemic levels, IAG said.

However, business travel is still sluggish.

It ‘has a negative impact on unit revenue,’

Flag carrier Iberia id faring best for business travel.

“IAG has delivered a strong first quarter financial performance, as group airlines recovered capacity to close to pre-pandemic levels,” said CEO, Luis Gallego, said.

“All our airlines performed above expectations.

“We are seeing healthy forward bookings with leisure demand strong.”

IAG says it will still be slightly short of a full pre-pandemic recovery by the end of 2023.

It expects to be at 97% of 2019 levels by then.

Read Full Story


 

profileimage

TravelMole Editorial Team

Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.



Most Read

Mark Jaronski of Explore Georgia on FIFA World Cup 2026

Connecting Small Businesses to Global Tourism Markets: Nate Huff of Tourism Exchange

North Carolina’s Resilience: Wit Tuttell on Recovery and Tourism

Kittipong Prapattong’s Plan for Thailand’s Tourism Growth: Taxes, Visas, and Campaigns

James Jin: Didatravel’s Journey from China to Global Reach and the Impact of AI on Travel

Darien Schaefer on Pensacola’s Evolution: From Small Town to Global Destination

Florida Tourism’s Next Frontier: Dana Young on Expanding Beyond the Classics

Patrick Harrison on Tampa Bay Tourism’s Resilience and Marketing Strategy

Bubba O’Keefe on Clarksdale’s Vibrant Music Scene

Commemorating Elvis and Embracing Tupelo’s Culture with Jennie Bradford Curlee

Craig Ray and the Expansion of the Blues Trail

Presenting Mississippi’s Cultural Trails with Katie Coats
TRAINING & COMPETITION

Our emails to you has bounced travelmole.com Or You can change your email from your profile Setting Section

Your region selection will be saved in your cookie for future visits. Please enable your cookie for TravelMole.com so this dialog box will not come up again.

Price Based Country test mode enabled for testing United States (US). You should do tests on private browsing mode. Browse in private with Firefox, Chrome and Safari