(Photo IAG)
IAG, THE parent company of Aer Lingus, British Airways, Iberia, Vueling and LEVEL, reported “strong and sustained demand for travel, in particular in leisure” as it revealed operating profits of around £3bn in 2023, higher than its pre-COVID peak. The company said it had seen capacity growth last year of 22.6% versus 2022, with further growth forecast this year.
“British Airways will continue to rebuild to its pre-COVID-19 longhaul capacity and Iberia [will] grow efficiently in the attractive and growing Latin American market,” an IAG statement said. The UK flag carrier is planned to return to pre-pandemic levels of non-premium capacity in 2024, long-haul capacity by 2025, and premium capacity by 2026. Iberia has been focussed on increasing frequencies to destinations in Latin America and is seeking “opportunities to deploy the Airbus A321XLR to select geographies and secondary cities”. Elsewhere, Aer Lingus will be expanding its network to 21 routes across the US and Canada in 2024, including restarting Minneapolis and adding a new route to Denver. For Vueling, IAG said it was “‘de-seasonalising’ its network, with a focus on winter sun destinations”, at the same time as strengthening its Spanish domestic offering through investment in its Barcelona and Bilbao bases, and seeking to grow at other European hubs, such as Paris/Orly and London/Gatwick. Meanwhile, LEVEL has strengthened its network between Barcelona and Latin America, including resuming the Santiago de Chile route, and further investment is planned in 2024.
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