IAG profits fly past pre-pandemic levels on strong leisure demand

(Sharecast News) - British Airways owner IAG on Thursday more than doubled annual profit as demand continued to rebound from the effects of the Covid pandemic. Operating profit before exceptional items for the year to December 31 came in at €3.5bn compared with 2022's €1.24bn and the pre-pandemic figure of €3.25bn.

"Demand continues to be robust, with particular strength in leisure travel. We are currently 92% booked for Q1 2024 and 62% booked for H1 2024, ahead of our position last year," IAG said.

Reporting by Frank Prenesti for Sharecast.com