British Airways owner’s annual profits soar to £2.3bn on leisure boom

IAG says demand has remained robust despite UK recession, with capacity close to pre-Covid levels

The owner of British Airways has announced bumper profits for 2023 on the back of sustained demand for leisure flights, with operating profits doubling year on year and exceeding 2019's pre-Covid haul.

IAG reported an annual profit of 2.7bn (2.3bn) after tax, on operating profits of 3.5bn (3bn), with high fares and premium leisure travel compensating for smaller numbers of business travellers.