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British Airways parent IAG set to return to profit

Air
Rob Gill
6 May 2022

British Airways owner IAG expects to return to profit in the current quarter as demand “recovers strongly” for the group’s airlines but they still face “challenges” in ramping up capacity.

British Airways is to cut a handful of short-haul flights from Heathrow during July

IAG, which also owns Aer Lingus, Iberia and Vueling, said that “premium leisure” was its best-performing market segment, while business travel is now at its highest level since the start of the pandemic more than two years ago.

Luis Gallego, IAG’s chief executive, said: “As a result of the increasing demand, forward bookings remain encouraging. 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.