British Airways-owner IAG SA more than doubled its profit in the fourth quarter and managed to exceed its pre-pandemic earnings for the year, raising confidence about robust travel demand as the airline industry heads into the busiest travel period of the year.
Profit after tax jumped to €504 million ($546 million) from €232 million a year earlier, on revenue of €7.2 billion. The company said it’s confident of generating “significant” free cash flow this year, and to boost capacity by about 7% this year. That’s more than rival Air France-KLM, which reported earnings earlier on Thursday that missed estimates.
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