IAG Group, which owns British Airways, Iberia, Aer Lingus, Level and Vueling, returned to profit for the first time since the COVID-19 pandemic broke out.
IAG posted an operating profit for the second quarter of €293 million ($300 million), compared with a loss of €967 million in the same period in 2021, the first time it has made a profit since 2019.
→ Iberia, most punctual airline in Europe in June.
“This result supports our full-year operating profit outlook,” said CEO Luis Gallego.
IAG indicated that its passenger capacity reached 78% of 2019 levels in the second quarter and forecast capacity of around 80% in the third quarter and around 85% in the fourth.
“Our industry continues to face historic challenges due to the unprecedented expansion of operations, especially in the UK, where Heathrow airport’s operational challenges have been acute,” Gallego said.
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