Transatlantic Ticket Sales Boost British Airways and IAG Profits
International Airlines Group (IAG) has reported a significant increase in annual profits, driven by booming transatlantic ticket sales and a rebound in passenger numbers.
The company, which includes British Airways, Iberia, Vueling, Level, and Aer Lingus, announced post-tax profits of €2.73bn (£2.26bn) for 2024, with operating profits rising by 22% to €4.3bn (£3.55bn).
The results reflect the turnaround investment in BA, including a £7bn investment in new lounges and technology to improve service and counter IT-related failures.
The performance is seen as a vindication of the measures taken by IAG to improve its services and reputation.
Author's summary: IAG reports increased profits due to transatlantic ticket sales.
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