IAG returns to profit after two years of losses due to the pandemic

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The group that integrates Iberia or British Airways triples its revenues and achieves a profit of 431 million in 2022

Intense hours at IAG (International Airlines Group), the group that includes the airlines Iberia, Vueling and British Airways. The company has just announced that after two years of losses due to the pandemic, it will return to profit in 2022, just hours after the boards of directors of IAG and Globalia (Air Europa) signed the agreement to acquire the Hidalgo . family business for 500 million euros.

Specifically, IAG tripled its turnover in 2022, to 23,000 million euros, which meant a net profit of 431 million, as reported this Friday to the National Securities Market Commission (CNMV). Group CEO Luis Gallego said in a statement that 2022 has been a year of “solid recovery, driven by continued holiday demand and the reopening of markets”.

Source: La Verdad

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