Stock Market

BA- proprietor IAG returns to benefit in 2022

LONDON( Reuters)- British Airways- proprietor IAG( LONICAG) on Friday reported mainly bettered fiscal performance for 2022, with operating profit at1.22 billion euros($1.29 billion), and said gains would grow again this time.

The results came after IAG agreed on Thursday to pay 400 million euros($423.84 million) to Spain’s Globalia for the remaining 80 of airline Air Europa it didn’t formerly own.

The accession is driven by IAG’s confidence that demand for trip will continue to recover from the epidemic.

For 2023, the airline group, which also owns Iberia, Vueling and Aer Lingus, cast profit in the range of1.8 billion euros to2.3 billion euros, up 88 on 2022 at the top of the range.

” 2022 was a time of strong recoverydriven by sustained rest demand and requests continuing. At this point of the time we continue to see robust forward– bookings, while also remaining conscious of globalmacro-economic misgivings,” IAG CEO Luis Gallego said in a statement.

$ 1 = 0.9439 euros)

This story has been corrected to fix million to billion in paragraph 1)

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button