IAG moves into profit
British Airways’ parent IAG has moved into profit in the first six months of the year.
The group, which also owns Iberia and Vueling, reported a half-year operating profit of €230 million, compared with a loss of €33 million in the same period last year.
"This performance shows that we are making further solid progress," said IAG chief executive Willie Walsh.
"Our disciplined approach to capacity continues and we will make reductions where it makes sense as we go through the year."
He said the group’s capacity will be trimmed by around three percentage points for the winter 2014 season.
"All of our airlines had their highest second quarter operating result since 2007,” he added.
BA’s operating profit was €332 million in the quarter, up from €247 million last year, while Iberia made an operating profit of €16 million, compared to an operating loss of €35 million last year.
Vueling’s operating profit was €30 million, up from €27 million.
Walsh said Iberia’s restructuring continues and last week the Spanish airline signed an agreement that could lead to an additional reduction of up to 1,427 jobs.
"This will create new opportunities for Iberia to enhance its profitability further in the next two or three years,” said Walsh.
IAG is converting eight Airbus A350-900 aircraft options into firm orders and securing eight A330-200 aircraft for Iberia.
The aircraft will replace 16 A340 family aircraft in Iberia’s longhaul fleet and will be delivered between 2015 and 2020.
"Iberia has taken significant steps to restructure its business and the progress made so far means that we can bring new longhaul aircraft into the airline’s fleet," said Walsh.
"These orders demonstrate our commitment to make Iberia competitive."
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
TAP Air Portugal to operate 29 flights due to strike on December 11
Qatar Airways offers flexible payment options for European travellers
Airlines suspend Madagascar services following unrest and army revolt
Air Mauritius reduces frequencies to Europe and Asia for the holiday season
Major rail disruptions around and in Berlin until early 2026