IAG also grew its capacity by 6% overall last year, including on the lucrative transatlantic market, with BA now the market leader on London-US routes and Iberia increasing its share of the Latin American market from Europe.
Julie Palmer, a partner at Begbies Traynor, a business recovery consultancy, said: “Despite current successes, IAG must remain wary of the potential headwinds of a volatile geopolitical climate, the possible impact of tariffs and a highly competitive travel market.
International Airlines Group, led by BA, announced post-tax profits edging up to €2.73bn (£2.26bn) for 2024, with operating profits up 22% on the previous bumper year to €4.3bn (£3.55bn), as passenger numbers continued to rebound from the Covid-era collapse.
Doyle said Gatwick’s second runway, which gained backing but not planning ratification from the UK government on Thursday, was likely to see BA build up its presence again at London’s second airport.
Gallego said: “We are focused on continuing to make our brands the first choice for customers, by growing our network and enhancing the customer proposition, while our disciplined capital allocation ensures we can continue to invest in the business, deliver strong financial results and create sustainable value for our shareholders.”.
