International Consolidated Airlines Group (IAG), the parent company of British Airways, has reported an operating profit of £7.9 million ($9.9 million) in the first quarter of 2023, its first operating profit since before the pandemic. The figure marks a significant improvement on the £629 million loss IAG recorded in the same period last year. The company attributed the profit to strong customer demand across all its airlines, which include Aer Lingus, Iberia, Level and Vueling. Fares were up by 10%, but fuel prices increased by approximately 35%. IAG reported revenue of £5.2 billion, a year-on-year increase of more than 71%.