British Airways parent IAG sees record profits from higher fares despite IT meltdowns

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ /verifyErrors }} British Airways parent company IAG made record profits in the first half of 2023 amid soaring fares and high demand – and despite operational meltdowns at the carrier linked to creaking IT systems. IAG chief executive Luis Gallego said: “Our strong profits since the start of the year are helping to fund investment for our customers, and to improve our balance sheet by reducing debt. “Customer demand remains strong across the group, particularly for leisure travel, with around 80 per cent of passenger revenue for the third quarter already booked. “And our airlines have put in place plans to support operations during the busy summer period.” I think that the performance of the group is going to continue in the way that you see now IAG chief executive Luis Gallego Asked about fares, Mr Gallego said IAG expects its revenue to be “even better” between July and September.