British Airways Owner Says Summer Travel Demand Is Strong [BNN Bloomberg (Canada)]
INTL CONSL AIRLNS S/ADR (ICAGY)
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Source: BNN Bloomberg
The airline group, which also owns Spain's Iberia said demand for travel within Europe and across the Atlantic was strong, although the rest of the world “is currently more challenging.” IAG posted an adjusted operating profit of €68 million ($73.3 million) in the three months ended March, it said in a stock exchange filing. “Our group benefits from the strength of our core markets - North Atlantic, South Atlantic and intra-Europe - and the performance of our brands,” Chief Executive Officer Luis Gallego said in the statement. “We are well-positioned for the summer. The high demand for travel is a continuing trend.” European airlines are facing a challenging backdrop to the key summer season this year, with the conflict in the Middle East denting demand for some destinations, while large swathes of airspace that are key for flights to East Asia are off limits following the Russian invasion of Ukraine. ©2024 Bloomberg L.P. Top Picks
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