29 days ago
This is Money
British Airways owner IAG has returned to profit after two years of pandemic-induced losses and forecast a further improvement in 2023 as travel continues to rebound. 'We are transforming our businesses, with the intention of returning IAG to pre-Covid levels of profit within the next few years, through major initiatives to improve customer experience and operational performance.' Capacity reached 78 per cent of pre-pandemic levels in 2022, hitting 87 per cent for the final quarter, suggesting ongoing momentum. The group is forecasting a return to 98 per cent of pre-pandemic levels as the current year unfolds. Over both a three and five year period, the shares remain down by 60 per cent.
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