Category Archives: International Airlines Group

BA owner raises profit forecast as travel demand rebounds

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IAG expects to fly almost the same passenger numbers this year as before Covid pandemic

The owner of British Airways has upgraded its full-year profit expectations thanks to strong demand for holiday travel, as the airline group said it expected to fly almost the same number of passengers this year as it did before the coronavirus pandemic.

International Airlines Group (IAG) reported a first-quarter profit for the first time since 2019, before the travel industry was plunged into chaos by Covid lockdowns. It made an operating profit of €9m (£7.9m) in the first three months of the year.

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BA owner IAG returns to profit for first time since start of Covid pandemic

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Airline group says demand is strong despite ‘historic challenges’ at Heathrow and elsewhere

British Airways has returned to profit for the first time since the start of the pandemic, with its owner International Airlines Group saying demand was strong despite “historic challenges” still facing the industry.

IAG said that there was no sign of bookings tailing off in the autumn and beyond – in the face of pessimistic forecasts from its main airport base, Heathrow – and that demand for the most lucrative transatlantic routes was continuing to grow.

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US airline chiefs add to pressure for transatlantic travel to restart

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American, Delta and United bosses join BA and Virgin Atlantic in saying US-UK vaccination levels mean routes should reopen

Major US airlines have weighed in alongside UK carriers to urge the reopening of transatlantic travel, calling on governments in Washington and London to arrange a summit as soon as possible.

The airlines said safely reopening borders was essential for economic recovery and asked the nations’ leaders to meet before the G7, and take a decision with sufficient time for airlines to plan and restart services.

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Sterling reaches $1.39 in best performance for three years

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FTSE 100 posts biggest daily gain for over a month as investors buoyed up by vaccine and US economy hopes

The pound has hit its highest level against the dollar for almost three years as global markets were buoyed up by hopes for a faster economic recovery from the coronavirus pandemic.

Sterling rose by 0.5% to hit a 33-month high against the dollar on Monday, trading above $1.39 on the global currency markets for the first time since 2018, while also rising to a nine-month high against the euro of almost €1.15.

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‘Time is running out’: airline industry warns government

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EasyJet and Ryanair to stop flying on Monday and less than 5% of passengers expected at airports amid coronavirus

Airlines and airports have warned that time is running out for the government to enact promised measures to help the aviation industry, with EasyJet and Ryanair set to stop flying after Monday and less than 5% of normal passenger numbers expected at major airports.

Further talks are expected between ministers and the industry on Monday as the government wrestles with how to keep critical infrastructure functioning.

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