IAG’s 3rd‑Quarter Earnings Skyrocket By 56%
In the three months ending September 2022, International Airlines Group (IAG), the parent company of British Airways, announced a jaw‑dropping 56% jump in profits. The headline figures have plenty of serious money to brag about, but let’s break it down in plain words.
What the Numbers Actually Say
- Pre‑tax profit: Upped from £879 million at the start of the year to £1.4 billion this quarter.
- Flight capacity: Grew by 17.9 %, meaning more seats turned to cash.
- Revenue: Climbed a hefty £7.5 billion during the same period.
- Fuel cost: slipped 6.2 %, saving the airline money like a good bargain on a ticket.
- Passenger revenue: Gained 2.2 %, proving travelers keep flying into the future.
- Gross debt: Reduced by £2.1 billion, now sitting at a more comfortable £15 billion.
CEO Luis Gallego Calls It a Record Quarter
“This quarter represents a record‑setting third‑quarter performance for IAG,” Gallego said to the press. “It’s giving us the funds to push our business forward and chip away at the debt that was once our heavy anchor.”
He added that the strong demand touched every route, especially the North and South Atlantic and all European leisure spots. IAG is tightening up its hubs in Barcelona, Dublin, London, and Madrid—all primed to serve both business and vacation travelers, with fleet deliveries and future orders on the horizon.
Mindful of the Big Picture
Gallego also reminded reporters that the world’s macro and geopolitical weather still has a chance of throwing a wet pebble in the road. He highlighted the situation in the Middle East by noting possible limited revenue impacts on flights to Cairo, Amman, and Israel, but the broader effects are still unclear.
In short: IAG’s third‑quarter results are a bright spot in a cloud‑soaked industry. More seats, less debt, and a slight dip in fuel prices have created a roof‑raising moment for the airline—and the good news is, it’s not just a one‑time touchdown.
