British Airways’ owner IAG back in profit for first time since start of pandemic

International Consolidated Airlines Group said it made an operating profit of 293 million euros (£245 million) between April and June.

29 July 2022

British Airways’ owner International Consolidated Airlines Group (IAG) has returned to profit for the first time since the start of the coronavirus pandemic.

The group said it made an operating profit of 293 million euros (£245 million) between April and June, compared with a 967 million euro (£810 million) loss during the same period last year.

IAG chief executive Luis Gallego said: “In the second quarter we returned to profit for the first time since the start of the pandemic following a strong recovery in demand across all our airlines.

“This result supports our outlook for a full-year operating profit.

“Our performance reflected a significant increase in capacity, load factor and yield compared to the first quarter.

“Premium leisure remains strong, while business travel continues a steady recovery in all airlines.”

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