All IAG’s airlines to post profit this year, CEO Gallego says

cde.news desk 22 September 2022, 16:40 · 1 min read

epa01932107 British Airways aircraft at Heathrow Airport in London, Britain 13 November 2009. British Airways (BA) boss Willie Walsh said 13 November the planned merger with Iberia is 'great news for British Airways, our customers and our shareholders'. He also said there was 'no question' of the airline's standards of service being cut after its merger. His comments came a day after the two carriers said they had reached a preliminary merger agreement. However, Virgin Atlantic, one of BA's big competitors in the UK, raised concerns over the new company's market share. EPA/ANDY RAIN

MADRID, (Reuters) – All the airlines owned by International Airlines Consolidated Group will end this year with a profit, CEO Luis Gallego said.

IAG, which owns British Airways, Iberia, Vueling and Aer Lingus, among others, had said previously it expected to return to an overall profit after a two-year crisis caused by the COVID-19 pandemic, without elaborating on individual airlines.

“We foresee all the airlines of the group to make profits again this year,” Gallego told an event in Madrid organised by El Economista newspaper.

After the airline industry was brought to its knees in 2020 and 2021 by pandemic travel restrictions, this year has seen a strong recovery in travel, pushing many airlines into the black.

(Reporting by Inti Landauro and Emma Pinedo Editing by Mark Potter)