LondonOctober 28 – IAGLtd., which owns Iberia and British Airways, reported third-quarter adjusted operating profit of 1.21 billion euros ($1.21 billion), after revenue returned to pre-pandemic levels, although most of its Asian network remained closed due to restrictions linked to… Corona virus disease.
The airline group said on Friday it expected its adjusted operating profit for the year to be around 1.1 billion euros, including a loss of 467 million euros in the first half.
Revenue of €7.33 billion in the quarter was 0.9% higher than in 2019, although passenger capacity was 81.1% of pre-pandemic levels.
IAG It said ‘premium’ leisure revenue had fully recovered by the end of the summer period, while business travel revenue was around 75% of the 2019 level.
CEO Luis Gallego said all of the group’s airlines were hugely profitable this quarter and continued to see strong passenger demand as capacity and occupancy recovered.
“While demand levels remain strong, we are aware of economic uncertainties and pressure on domestic consumption,” he said.
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