International Consolidated Airlines Group announced that it expects profitable operating results from the second quarter onwards, and will remain so for the whole year, after announcing a reduction in operating losses for the first quarter.
The group of airlines, which includes British Airways and Iberia, among others, said that demand is recovering strongly and in line with the company’s expectations.
The IAG said it had not seen any significant impact on travel demand since the war in Ukraine during the period.
The company reported operating losses of € 731 million compared to operating losses of € 1.08 billion a year ago.
Operating losses before emergencies amounted to 754 million euros compared to losses of 1.14 billion euros a year ago.
Revenue stood at 3.4 billion euros, up from 968 million euros a year ago, compared to analysts’ estimates of 3.37 billion euros.
The company stated that the capacity for the second quarter is expected to reach 80% of the 2019 level, and to increase to 85% in the third quarter.
Source: Capital
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