British Airways parent company predicts big profits in 2023

BA operated only 70% of its 2019 schedule last year due to resource shortages

Going places? Passengers at BA’s main base, Heathrow Terminal 5, where thousands of flights were cancelled during 20222 (Simon Calder)

IAG, the company that owns British Airways, Aer Lingus, and Iberia and Vueling of Spain, says it saw a “strong recovery” during 2022.

BA’s parent company turned a 2021 operating loss of €2.8bn (£2.5bn) into an operating profit of €1.3bn (£1.1bn) last year.

The conglomerate predicts profits for 2023 in the range of €1.8bn-€2.3bn (£1.6bn-£2bn) – though it warns: “This assumes no further setbacks related to Covid-19 or material impacts from geopolitical developments.”