International Airlines Group (IAG), led by BA, yesterday announced post-tax profits edging up to â¬2.73bn (£2.26bn) for 2024, with operating profits up 22% on the previous bumper year to â¬4.3bn, as passenger numbers continued to rebound from the Covid-era collapse.
The bulk of the operating profit was driven by the British flag carrier for the Spanish-based group that also includes Iberia, Vueling, Level and Aer Lingus. It was seen as vindication of measures including a £7bn "turnaround" investment in BA to counter a faltering reputation for service and repeated IT-related failures.
The chief executive of IAG, Luis Gallego, said the results reflected "the successful execution of our transformation programme".
IAG also increased its capacity by 6% overall last year, including the lucrative transatlantic market, with BA now the market leader on London-US routes and Iberia increasing its share of the Latin American market from Europe.
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