Feb 25, 2022

Airline group IAG forecasts return to profit as passengers return to skies

The owner of British Airways expects to return to profitability this year as passengers surge back into the skies and the aviation industry recovers from the impact of the coronavirus pandemic. IAG warned the outlook was dependent on "No material impact from recent geopolitical developments" in Ukraine. IAG flew 36 per cent of its pre-pandemic schedules in 2021, but traffic picked up throughout the year and the group forecast its capacity would reach 85 per cent of 2019 levels by the summer. A "Significant" loss is still expected in the first quarter, but IAG forecast "Significantly positive" operating profit from the second quarter. IAG held cash of €7.9bn by the end of 2020, up €2bn on the previous year.

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