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Reuters

BA-owner IAG is back in profit in 2022

LONDON (Reuters) – British Airways owner IAG on Friday reported a substantial improvement in financial performance for 2022, with an operating profit of 1.22 billion euros ($1.29 billion), and said profit would grow again this year. The results come after IAG agreed on Thursday to pay 400 million euros ($423.84 million) to Spain’s Globalia for the remaining 80% of airline Air Europa that it does not yet own. For 2023, the airline group, which also owns Iberia, Vueling and Aer Lingus, forecasts profit in the range of 1.8 billion euros to 2.3 billion euros, up 88% from 2022 at the top of the range.