T
he dad or mum firm of British Airways made a document working revenue between January and June, it has introduced.
International Consolidated Airlines Group (IAG) stated its working revenue within the first half of 2023 reached 1.3 billion euros (£1.1 billion), up from a lack of 446 million euros (£383 million) in the identical interval final 12 months.
Revenue reached 13.6 billion euros (£11.7 billion), a rise of almost 45% year-on-year.
Fares have been up by a median of round 9.5%, whereas gasoline costs elevated by 5.7%.
IAG stated the capability of its flights has been restored to 94% of pre-pandemic ranges.
It attributed this to a “strong leisure traffic recovery”, noting the premium leisure section “continued to perform very well”.
IAG chief government Luis Gallego stated: “Our strong profits since the start of the year are helping to fund investment for our customers, and to improve our balance sheet by reducing debt.
“We are aiming to be back to pre-pandemic capacity at the end of this year.
“These results are thanks to a strong performance from all companies across the group, and we would like to thank our teams for their hard work during the year so far.
“Customer demand remains strong across the group, particularly for leisure travel, with around 80% of passenger revenue for the third quarter already booked.
“And our airlines have put in place plans to support operations during the busy summer period.”
I feel that the efficiency of the group goes to proceed in the way in which that you just see now
Asked about fares, Mr Gallego stated IAG expects its income to be “even better” between July and September.
He stated: “We don’t see any sign of a slowdown in the demand.
“I think that the performance of the group is going to continue in the way that you see now.”
IAG acknowledged that “some of our operations are not where we would want them to be and this is affecting our overall customer service”.
It stated French air visitors management strikes are affecting most of its airways – which encompass Aer Lingus , British Airways, Iberia, Level and Vueling – whereas international provide chain points are “reducing aircraft availability”.
The firm stated British Airways is “particularly affected” resulting from its “London exposure and complex schedule”.
IAG stated it has responded to the challenges by recruiting 4,000 folks within the first half of the 12 months with a “particular focus on ground operations” and is leasing eight plane with crew from different airways.
