LONDON, United Kingdom – IAG, owner of British Airways and Spanish carrier Iberia, revealed Friday a return to profit in the third quarter with passenger demand recovering after widespread easing of Covid restrictions.
Profit after tax stood at 853 million euros ($850 million) in the July-September period compared with a net loss of 574 million euros in the third quarter last year.
Revenue soared to 7.3 billion euros in the peak summer season from 2.7 billion euros, IAG added in a statement.
“While demand remains strong, we are conscious of the uncertainties in the economic outlook,” said IAG chief executive Luis Gallego. – AFP