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IAG Sees ‘Good Recovery’ For Corporate Travel

The corporate travel segment is in “good recovery,” according to executives of International Airlines Group, speaking on a second-quarter earnings call. The company operates British…

Written by:

Harvey Chipkin

Published on:

August 5, 2024
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The corporate travel segment is in “good recovery,” according to executives of International Airlines Group, speaking on a second-quarter earnings call. The company operates British Airways and Iberia, Air Lingus, Level and Vueling.

Luis Gallego, CEO, said that though corporate travel continues to lag behind leisure, it has different recovery rates across the airlines. He said that at British Airways, corporate volume is around 65% and revenue about 80% of 2019 numbers. At Iberia, the volume is around 90% and revenue above 2019. At Aer Lingus, volume is close to 100% and revenue at 95%. Differences in capacity levels, said Gallego, explain some of the variation.

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For British Airways, according to CEO Sean Doyle, second quarter North Atlantic business volume was up more than 13% year over year.

IAG reported second-quarter passenger revenue of more than $8.1 billion, up 9.9% year over year. Total revenue was nearly $9.08 billion, up from $8.43 billion a year prior. The company’s operating profit for the quarter was more than $1.3 billion, down about 0.8% year over year.

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