2023-05-05 09:25:09
International Airlines Group (IAG) -to which Iberia, British Airways, Vueling, Aer Lingus and Level belong- lost 87 million euros in the first quarter of the year, 700 million less (89%) than in the same period of 2022, due to to the impulse of travel due to the ‘boom’ of tourism after the pandemic.
The group led by the Spanish Luis Gallego billed 5,889 million euros between January and March, 71.4% more than a year earlier, according to information submitted to the National Securities Market Commission (CNMV). IAG’s operating profit was $9m compared with a loss of $718m a year earlier.
“IAG has recorded solid financial results in the first quarter, a period in which the group’s airlines recovered capacity to approach pre-pandemic levels,” said the group’s CEO, Luis Gallego, in a statement, in the which recalled that all the airlines of the ‘holding’ exceeded forecasts, “benefiting from solid demand and lower fuel prices during the quarter.”
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The company indicates that its focus continues to be the deployment of its capacity in strategic markets in Latin America and the North Atlantic, which have already recovered pre-pandemic capacity levels.
These results have been released only a few hours after the group announced the departure of Javier Sánchez-Prieto from the presidency of Iberia after three years in office. He will be temporarily replaced by Fernando Candela, who will serve between July and December of this year to put an end to his professional career in the Iberia group.
And it is that Candela has been CEO of Level since 2019 and Director of Transformation of IAG since 2020. He was CEO of Iberia Express for six years and, previously, among other positions, he was Director of Planning and Management Control of Air Nostrum.
For his part, Javier Sánchez-Prieto leaves the company because, according to the IAG statement, he has decided to face “new personal projects outside the aeronautical industry” by his own decision.
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