IAG, the owner of British Airways, has reported record half-year profits of €1.3bn (£1.1bn) as air travel continues to rebound after the pandemic. The operating profits were a significant

improvement compared to the €446m loss posted in the same period last year. The strong recovery in leisure travel and higher fares contributed to the positive financial results. IAG's flight capacity is now at 94% of pre-pandemic levels, and fares have increased by about 9.5% on average. Revenue for the first half of the year reached €13.6bn, marking a 45% increase from the previous year.

IAG's chief, Luis Gallego, expressed confidence in the group's future, stating that they aim to return to pre-pandemic levels of demand by the end of the year. However, the company remains cautious about potential uncertainties, such as fuel prices and consumer confidence in the coming months.

While leisure travel demand remains strong, IAG acknowledged challenges in its operations that are affecting customer service. French air traffic control strikes and global supply chain issues have impacted their airlines, with British Airways being particularly affected due to its London exposure and complex schedule. Nevertheless, the company is optimistic about the busy summer period and has plans in place to support operations during this time. Photo by Steve Lynes from Sandshurst, United Kingdom, Wikimedia commons.