The Fort Worth Press - Airlines giant IAG revenue back at pre-pandemic level

USD -
AED 3.673028
AFN 69.999802
ALL 93.417149
AMD 394.350239
ANG 1.800217
AOA 914.498985
ARS 1016.980696
AUD 1.566109
AWG 1.8
AZN 1.695602
BAM 1.859939
BBD 2.016871
BDT 119.367784
BGN 1.86332
BHD 0.377136
BIF 2896
BMD 1
BND 1.34233
BOB 6.902455
BRL 5.955497
BSD 0.998925
BTN 84.699292
BWP 13.553971
BYN 3.268982
BYR 19600
BZD 2.013505
CAD 1.414395
CDF 2869.999961
CHF 0.88299
CLF 0.035342
CLP 975.202368
CNY 7.261799
CNH 7.270725
COP 4338
CRC 501.269579
CUC 1
CUP 26.5
CVE 105.249788
CZK 23.86995
DJF 177.720041
DKK 7.096798
DOP 60.549889
DZD 133.713769
EGP 50.638601
ERN 15
ETB 127.111365
EUR 0.951695
FJD 2.316503
FKP 0.789317
GBP 0.78319
GEL 2.809957
GGP 0.789317
GHS 14.750431
GIP 0.789317
GMD 71.999639
GNF 8630.000169
GTQ 7.696331
GYD 208.92059
HKD 7.77506
HNL 25.326664
HRK 7.133259
HTG 130.839166
HUF 389.994981
IDR 15970
ILS 3.58002
IMP 0.789317
INR 84.84085
IQD 1308.556974
IRR 42087.500677
ISK 138.820141
JEP 0.789317
JMD 156.532324
JOD 0.709097
JPY 152.132982
KES 129.500984
KGS 86.810262
KHR 4021.999567
KMF 466.12503
KPW 899.999621
KRW 1428.720058
KWD 0.30757
KYD 0.83243
KZT 521.692407
LAK 21877.318117
LBP 89452.020922
LKR 289.870095
LRD 179.305754
LSL 17.808167
LTL 2.95274
LVL 0.60489
LYD 4.870184
MAD 9.990149
MDL 18.265335
MGA 4684.736091
MKD 58.607553
MMK 3247.960992
MNT 3397.999946
MOP 7.997223
MRU 39.825014
MUR 46.650267
MVR 15.394297
MWK 1732.097004
MXN 20.12297
MYR 4.429989
MZN 63.902922
NAD 17.808167
NGN 1549.15015
NIO 36.755266
NOK 11.135225
NPR 135.517769
NZD 1.725998
OMR 0.384989
PAB 0.998859
PEN 3.714014
PGK 4.040817
PHP 58.479506
PKR 278.149692
PLN 4.063897
PYG 7814.253381
QAR 3.641836
RON 4.727098
RSD 111.293052
RUB 105.500079
RWF 1392.011412
SAR 3.757988
SBD 8.383555
SCR 14.092657
SDG 601.489851
SEK 10.963765
SGD 1.342715
SHP 0.789317
SLE 22.801579
SLL 20969.504736
SOS 571.520072
SRD 35.204966
STD 20697.981008
SVC 8.74068
SYP 2512.529858
SZL 17.798996
THB 33.805501
TJS 10.918022
TMT 3.51
TND 3.15725
TOP 2.342102
TRY 34.862765
TTD 6.779645
TWD 32.500798
TZS 2374.999843
UAH 41.711014
UGX 3654.639862
UYU 43.697815
UZS 12850.676151
VES 49.413776
VND 25390
VUV 118.722009
WST 2.791591
XAF 623.829767
XAG 0.031267
XAU 0.000368
XCD 2.70255
XDR 0.758038
XOF 623.800105
XPF 113.414611
YER 250.375016
ZAR 17.698169
ZMK 9001.199801
ZMW 27.495007
ZWL 321.999592
  • RBGPF

    -1.1800

    59.32

    -1.99%

  • CMSC

    0.0100

    24.63

    +0.04%

  • GSK

    -0.7600

    34.45

    -2.21%

  • RIO

    0.1600

    64.98

    +0.25%

  • SCS

    0.0400

    13.2

    +0.3%

  • RYCEF

    0.1000

    7.28

    +1.37%

  • BP

    0.2300

    30.33

    +0.76%

  • AZN

    0.2200

    67.4

    +0.33%

  • NGG

    -0.8700

    60.07

    -1.45%

  • BTI

    0.0100

    37.74

    +0.03%

  • RELX

    0.2700

    47.34

    +0.57%

  • BCC

    0.0500

    142.48

    +0.04%

  • BCE

    -0.4900

    25.97

    -1.89%

  • JRI

    -0.0100

    13.3

    -0.08%

  • VOD

    -0.0700

    8.77

    -0.8%

  • CMSD

    -0.1000

    24.29

    -0.41%

Airlines giant IAG revenue back at pre-pandemic level
Airlines giant IAG revenue back at pre-pandemic level / Photo: © GETTY IMAGES NORTH AMERICA/AFP

Airlines giant IAG revenue back at pre-pandemic level

IAG, owner of British Airways and Spanish carrier Iberia, revealed Friday revenue slightly above pre-pandemic levels as it posted third-quarter profits on rebounding passenger demand.

Text size:

Revenue soared to 7.3 billion euros (dollars) in the peak July-September demand period, from 2.7 billion euros in the third quarter last year, IAG said in a statement.

The latest result was almost one percent higher compared with the third quarter in 2019, or before the coronavirus pandemic grounded planes worldwide at the start of the following year.

It comes despite the group's airlines, which include Aer Lingus and Vueling, facing higher costs, notably from soaring jet fuel prices.

Airlines are tackling this by charging higher fares.

"While demand remains strong, we are conscious of the uncertainties in the economic outlook," IAG chief executive Luis Gallego said in the earnings statement.

"Leisure demand is particularly healthy and leisure revenue has recovered to pre-pandemic levels. Business travel continues to recover steadily."

Profit after tax stood at 853 million euros in the third quarter compared with a net loss of 574 million euros one year earlier.

The second quarter had seen IAG fly back into profit for the first time since the start of the pandemic.

IAG said its third-quarter performance was impacted also by a strong dollar, while passenger capacity was 81 percent of pre-pandemic levels.

Despite the headwinds, "this is no doubt an impressive turnaround from BA's parent company", noted Derren Nathan, head of equity research at Hargreaves Lansdown.

"Planes are just as full as before the pandemic but IAG is flying less of them."

In reaction, shares in IAG were down 1.2 percent on London's falling FTSE 100 index.

The group had collapsed into annual losses in 2020 and 2021 as Covid ravaged global demand for international air travel, forcing BA and its peers to slash thousands of jobs.

That has left airlines and airports struggling to recruit staff.

L.Holland--TFWP