29 days ago
This is Money
IAG roared back into the black last year as demand for air travel rebounded from its pandemic slump. IAG reported its capacity had reached 87 per cent of 2019 levels in the final quarter of last year. But IAG remained optimistic and expects a bigger profit in 2023 of between £1.6billion and £2billion as air travel continued to recover and capacity improved. Aside from the lingering effects of the pandemic, IAG and other travel firms are now battling with the cost of living squeeze as customers increasingly opt for cheaper trips or eschew travel altogether as they tighten their belts. The ongoing pressure on the industry was laid bare last month when low-cost carrier FlyBe collapsed into administration.
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