All IAG’s airlines to post profit this year, CEO Gallego says

MADRID (Reuters) – All the airlines owned by International Airlines Consolidated Group will end this year with a profit, CEO Luis Gallego said on Wednesday.

IAG, which owns British Airways, Iberia, Vueling and Aer Lingus, among others, had said previously it expected to return to an overall profit after a two-year crisis caused by the COVID-19 pandemic, without elaborating on individual airlines.

“We foresee all the airlines of the group to make profits again this year,” Gallego told an event in Madrid organised by El Economista newspaper.

After the airline industry was brought to its knees in 2020 and 2021 by pandemic travel restrictions, this year has seen a strong recovery in travel, pushing many airlines into the black.

(Reporting by Inti Landauro and Emma Pinedo; Editing by Mark Potter)