International Airlines Group (IAG), the parent company of British Airways, more than doubled its profit in the fourth quarter, underscoring a positive outlook for the travel industry. The company's adjusted operating profit reached EU502M, slightly below the estimated EU504M, but its revenue exceeded expectations at EU7.22B against the forecasted EU7.14B. This financial performance is attributed to robust travel demand, with IAG currently having 92% of its capacity booked for the first quarter of 2024.
📈FTSE 100 Live: LSEG, Ocado, British Airways owner IAG results https://t.co/GshIxN4lD4
IAG Net Profit Surges on Strong Travel Demand https://t.co/7YTUSfMJyL
British Airways Owner IAG Reports Surge In Profits - FT https://t.co/oQM1x6AjdE
British Airways owner IAG reports surge in profits https://t.co/tUenJvBBqm
British Airways-owner IAG more than doubled its profit in the fourth quarter, raising confidence about robust travel demand https://t.co/8AKR9v2dZH
IAG Q4 23 Earnings: - Adj Oper Profit EU502M (est EU504M) - Rev EU7.22B (est EU7.14B) - Currently 92% Booked For Q1 2024 - Demand Continues To Be Robust