Aer Lingus parent company records first quarter operating profit

By Neil Lancefield and August Graham, PA

Aer Lingus’s parent company returned to an operating profit between January and March for the first time since before the pandemic, the company has announced.

International Consolidated Airlines Group (IAG) said its first quarter operating profit reached €9 million , up from a loss of €718 million in the same period last year.

Revenue reached €5.9 billion, an increase of more than 71 per cent year-on-year.

IAG attributed the financial results to “ongoing strong customer demand across all our airlines”, which consist of Aer Lingus, British Airways, Iberia, Level and Vueling.

Chief executive Luis Gallego said: “IAG has delivered a strong first quarter financial performance as group airlines recovered capacity to close to pre-pandemic levels.

“Iberia contributed a record first-quarter profit and all our airlines performed above expectations, benefiting from robust demand and a lower fuel price in the quarter.”

“We are seeing healthy forward bookings, with leisure demand particularly strong, while business travel continues to recover more slowly.”