British Airways owner IAG has reported record annual profits due to a boom in leisure travel.
Operating profits rose to €3.5 billion last year, higher than its previous record of €3.3bn in 2019.
IAG, which also owns Iberia, Aer Lingus, Vueling and LEVEL, said it has seen ‘strong and sustained demand for travel’, especially from holidaymakers.
The return of business travel has been slower, it said, but added this was offset by higher demand from tourists for premium seats.
It acknowledged that its performance at London’s Heathrow Airport had been poor, where just 60% of its flights were on time last year. However, it said this had improved this year following ‘significant investment’.
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Operating profits rose to €3.5 billion last year, higher than its previous record of €3.3bn in 2019.
IAG, which also owns Iberia, Aer Lingus, Vueling and LEVEL, said it has seen ‘strong and sustained demand for travel’, especially from holidaymakers.
The return of business travel has been slower, it said, but added this was offset by higher demand from tourists for premium seats.
It acknowledged that its performance at London’s Heathrow Airport had been poor, where just 60% of its flights were on time last year. However, it said this had improved this year following ‘significant investment’.
The post BA parent profits double as holidaymakers fill premium seats appeared first on Travel Gossip.
Continue reading...
