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IAG returns to profit in second quarter
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IAG returns to profit in second quarter

International Airlines Group has published its results for the second quarter of 2022, showing an operating profit of €293 million.

The figure compares to a loss of €967 million for the same period in 2021, and follows “strong recovery in demand across all airlines” in the group.

Second quarter passenger capacity was at 78 per cent of 2019 levels, up from 65 per cent in the first quarter, and IAG said that “By the end of quarter 2, premium leisure revenue had almost fully recovered to 2019’s level, despite capacity being significantly lower”.

Business channel revenue continued to lag however, reaching 60 per cent of 2019 levels by the end of the second quarter.

The group said that its key North American market was expected to be close to 2019 capacity levels by the end of the year, with overall passenger capacity plans for the remainder of 2022 set to be around 80 per cent in quarter 3 and 85 per cent in quarter 4…

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