IAG, owner of British Airways and Iberia, returns to profit
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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