British Airways proprietor IAG sees document earnings as air journey recovers | EUROtoday

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IAG chief government Luis Gallego mentioned the group’s capability was now near pre-pandemic ranges in most of its foremost markets.

Total revenues on the group rose to €29.4bn (£25bn), up from €23bn in 2022.

Demand for flights continues to be “robust”, IAG mentioned, particularly for leisure journey. The group mentioned its flights had been 92% booked for the primary three months of 2024 and 62% booked for the primary half of the 12 months, which is a stronger place than it was a 12 months earlier.

However, IAG mentioned dangers remained, together with the affect of upper inflation and rates of interest, larger prices and the potential affect of ongoing conflicts in varied areas.

In a name with reporters, Mr Gallego mentioned the airline group had seen little affect from the sluggishness within the UK financial system, with shopper demand persevering with “to be very strong, particularly in leisure”.

There was no touch upon whether or not air fares would rise this 12 months, with the IAG boss saying they might be “determined by the market”.

IAG mentioned it will be investing in 178 new plane between 2023 and 2028, which might be “20% more fuel-efficient than the previous generation and significantly quieter”.