Back to black for BA parent
British Airways’ parent IAG returned to profit last year after shrinking its losses at its Spanish airline Iberia and buying money-making budget airline Vueling.
Chief executive Willie Walsh said the group has also benefited from cost savings at BA and from the additional Heathrow take-off and landing slots acquired through its 2012 takeover of BMI.
Pre-tax profit for the 12 months to December 31 came to €227 million compared with a €774 million loss last year.
BA made an operating profit of €762 million while Iberia remained in the red but reduced its losses to €166 million. Vueling contributed €168 million operating profit from April to December
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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