IAG Expects Higher Profit This Spring

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IAG has released its first-quarter financial results, highlighting the group’s confidence in achieving higher profit by this spring.

IAG chief executive Luis Gallego says: ”The group’s operating loss reduced significantly in the first quarter compared to last year, with our losses reflecting normal seasonality, the impact of Omicron and costs associated with ramping up operations.”

“As a result of the increasing demand, forward bookings remain encouraging,” he said. “We expect to achieve 80% of 2019 capacity in the second quarter and 85% in the third quarter. North Atlantic capacity will be close to fully restored in the third quarter.”

Source: IAG