{"id":13425,"date":"2024-05-11T12:08:34","date_gmt":"2024-05-11T09:08:34","guid":{"rendered":"https:\/\/aviation-news.info\/?p=13425"},"modified":"2024-05-11T12:08:34","modified_gmt":"2024-05-11T09:08:34","slug":"british-airways-owner-international-airlines-group-sees-profits-soar","status":"publish","type":"post","link":"https:\/\/aviation-news.info\/?p=13425","title":{"rendered":"British Airways owner International Airlines Group sees profits soar"},"content":{"rendered":"<p>Aviation News &#8211; The company, which also owns Aer Lingus, Iberia and Vueling, said earnings had soared thanks to strong demand, particularly over the Easter holidays.<\/p>\n<div class=\"sdc-article-author\"><\/div>\n<div>\n<p>The owner of British Airways has reported a sharp rise in profits amid soaring demand for trips and a fall in the cost of fuel.<\/p>\n<p>International Airlines Group (IAG) said its operating profit for the first three months of the year was \u20ac68m (\u00a358.5m) &#8211; above expectations and up from \u20ac9m (\u00a37.7m)\u00a0<strong><a href=\"https:\/\/news.sky.com\/story\/british-airways-owner-iag-raises-profit-guidance-as-it-sees-capacity-at-97-of-pre-pandemic-level-12873421\" target=\"_blank\" rel=\"noopener\">during the same period in 2023<\/a><\/strong>.<\/p>\n<p>The company, which also owns Aer Lingus, Iberia and Vueling, said earnings had soared thanks to strong demand, particularly over the Easter holidays.<\/p>\n<p>It said fuel costs had also dropped almost 5% &#8211; compared to the same period last year &#8211; due to lower prices and &#8220;more efficient&#8221; aircraft deliveries.<\/p>\n<p>IAG said\u00a0<strong><a href=\"https:\/\/news.sky.com\/topic\/british-airways-5919\" target=\"_blank\" rel=\"noopener\">British Airways<\/a><\/strong>\u00a0(BA) and its other airlines had reported a noticeable uptick in ticket sales for flights between major European cities, especially for leisure trips.<\/p>\n<div class=\"ad ad--teads\">\n<div class=\"sdc-site-au \" data-ad-format=\"teads\" data-type=\"\" aria-hidden=\"true\" data-advert-rendered=\"4x4\">\n<div data-consent=\"true\" data-vendor-name=\"peer-39\"><\/div>\n<\/div>\n<\/div>\n<p>Chief executive Luis Gallego said the group&#8217;s airlines had already secured more than 80% of projected bookings for the second quarter and over 40% for the third quarter.<\/p>\n<p>Total revenues also increased to \u20ac6.4bn (\u00a35.5bn), up from \u20ac5.9bn (\u00a35.1bn) last year, according to first quarter figures published on Friday.<\/p>\n<p>IAG&#8217;s fortunes are in contrast to its European rivals Lufthansa and Air France-KLM, which both reported lower-than-expected first quarter results.<\/p>\n<div class=\"sdc-site-layout-sticky-region \" data-interscroller=\"false\" data-format=\"floated-mpu\" data-role=\"sticky-region\" data-component-name=\"sdc-site-layout\" data-init=\"true\" data-advert-rendered=\"300x600\">\n<div class=\"sdc-site-layout-sticky-region__target\">\n<div class=\"sdc-site-layout-sticky-region__mask\">\n<div class=\"sdc-site-layout-sticky-region__content\">\n<div class=\"sdc-site-au-wrapper \">\n<div class=\"sdc-site-au site-component-vertical-margin\" data-ad-format=\"mpu-1\" data-type=\"\" aria-hidden=\"true\" data-advert-rendered=\"300x600\">\n<div data-consent=\"true\" data-vendor-name=\"peer-39\"><\/div>\n<div class=\"sdc-site-au__label\" data-role=\"ad-label\"><span class=\"sdc-site-au__label-text\" data-label-text=\"Advertisement\">Advertisement<\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>Mr Gallego said: &#8220;Our transformation initiatives and increased demand, including over the Easter holidays, have delivered another very good set of results with improvements to both revenue and operating profit.<\/p>\n<p>&#8220;Our group benefits from the strength of our core markets &#8211; North Atlantic, South Atlantic and intra-Europe &#8211; and the performance of our brands. Investment across the group in transformation is delivering encouraging improvements in punctuality and customer experience at our airlines&#8230;<\/p>\n<p>&#8220;We are well-positioned for the summer. The high demand for travel is a continuing trend.&#8221;<\/p>\n<p>Mr Gallego also said the impact of the\u00a0<strong><a href=\"https:\/\/news.sky.com\/israel-hamas-war\" target=\"_blank\" rel=\"noopener\">Israel-Hamas war<\/a><\/strong>\u00a0on the company had been limited.<\/p>\n<p>The impressive results come despite BA being ranked one of the\u00a0<strong><a href=\"https:\/\/news.sky.com\/story\/worst-airlines-for-customer-satisfaction-revealed-13079618\" target=\"_blank\" rel=\"noopener\">worst airlines for customer satisfaction<\/a><\/strong>\u00a0in a survey by Which? earlier this year.<\/p>\n<p>At the time, the carrier apologised for &#8220;any disruption&#8221; faced by passengers but said it &#8220;always works hard to get our customers to where they need to be on time.&#8221;<\/p>\n<\/div>\n<p>Source: <a href=\"https:\/\/news.sky.com\/story\/british-airways-owner-international-airlines-group-sees-profits-soar-13132718\">https:\/\/news.sky.com\/story\/british-airways-owner-international-airlines-group-sees-profits-soar-13132718<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Aviation News &#8211; The company, which also owns Aer Lingus, Iberia and Vueling, said earnings had soared thanks to strong demand, particularly over the Easter holidays. The owner of British Airways has reported a sharp rise in profits amid soaring demand for trips and a fall in the cost of fuel. International Airlines Group (IAG) &hellip;<\/p>\n","protected":false},"author":1,"featured_media":13426,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpscppro_dont_share_socialmedia":null,"_wpscppro_custom_social_share_image":0,"_facebook_share_type":"default","_twitter_share_type":"default","_linkedin_share_type":"default","_pinterest_share_type":"default","_linkedin_share_type_page":"","_instagram_share_type":"default","_medium_share_type":"","_threads_share_type":"","_google_business_share_type":"","_selected_social_profile":null,"_wpsp_enable_custom_social_template":false,"_wpsp_social_scheduling":{"enabled":false,"datetime":null,"platforms":[],"status":"template_only","dateOption":"today","timeOption":"now","customDays":"","customHours":"","customDate":"","customTime":"","schedulingType":"absolute"},"_wpsp_active_default_template":true},"categories":[98,102],"tags":[],"class_list":["post-13425","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-companies","category-featured-en"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>British Airways owner International Airlines Group sees profits soar - aviation news<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/aviation-news.info\/?p=13425\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"British Airways owner International Airlines Group sees profits soar\" \/>\n<meta property=\"og:description\" content=\"Aviation News &#8211; The company, which also owns Aer Lingus, Iberia and Vueling, said earnings had soared thanks to strong demand, particularly over the Easter holidays. 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