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The Guardian - UK

Business

Gwyn Topham Transport correspondent

British Airways owner’s annual profits soar to £2.3bn on leisure boom

British Airways IAG Level Luis Gallego Recession United Kingdom Vueling

A British Airways plane lands at London Heathrow airport. — British Airways is planning a £7bn overhaul and aims to grow capacity by about 7%. Photograph: Stephen Hird/Reuters

The owner of British Airways has announced bumper profits for 2023 on the back of sustained demand for leisure flights, with operating profits doubling year on year and exceeding 2019’s pre-Covid haul.

IAG reported an annual profit of €2.7bn (£2.3bn) after tax, on operating profits of €3.5bn (£3bn), with high fares and premium leisure travel compensating for smaller numbers of business travellers.

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