British Airways’ owner has said that a recovery in business travel and trips by wealthy passengers will drive a return to profitability from the second quarter onwards this year.
International Airlines Group (IAG), which also owns Iberia and Aer Lingus, said that while Omicron had a short-term impact on bookings in January and February, the overall easing of coronavirus-related travel restrictions has improved travel demand in the first quarter, particularly in the UK.
“Demand is recovering strongly in line with our previous expectations,” said Luis Gallego, the chief executive of IAG. “We expect to be profitable from the second quarter onwards and for the full year. Premium leisure continues to be the strongest performing segment and business travel is at its highest level since the start of the pandemic.”
The company, which reported an operating loss of €731m (£625m) in the first quarter compared with more than €1bn in…
