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May 23, 2024
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International Airlines Group (IAG) is launching a new transformation program that should improve the efficiency and resilience of all its airlines, result in sustainable operating profits, produce world-class margins, and deliver higher customer satisfaction. IAG will adopt the successful transformation strategy of Iberia, which resulted in a drastic improvement in results in the past decade, IAG said on Tuesday during its Capital Markets Day in London.

IAG, which includes British Airways, Iberia, Aer Lingus, Vueling, and LEVEL, has recovered strongly from the pandemic. It produced a €1.745 billion operating profit before exceptional items in the third quarter with a 20.2 percent operating margin. The 9M operating profit was €3.005 billion, with an operating margin of 13.5 percent. It has a strong balance sheet with a net debt/EBITDA ratio of 1.4 times.

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Richard Schuurman
Active as a journalist since 1987, with a background in newspapers, magazines, and a regional news station, Richard has been covering commercial aviation on a freelance basis since late 2016. Richard is contributing to AirInsight since December 2018. He also writes for Airliner World, Aviation News, Piloot & Vliegtuig, and Luchtvaartnieuws Magazine. Twitter: @rschuur_aero.