Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

BA owner IAG boosts staff by 1,700 to meet summer demand surge

by May 10, 2024
May 10, 2024
BA owner IAG boosts staff by 1,700 to meet summer demand surge

British Airways has created 1,700 jobs as it gears up for a summer boom allowing its parent company IAG to match last year’s operating profit bonanza of €3.5 billion.

The recruitment drive at BA includes cabin crew and technology professionals to enhance the airline’s digital services. This move follows a 7% increase in capacity as the airline anticipates a surge in summer travel.

IAG reported nearing break-even in the traditionally challenging first quarter of the year, buoyed by increased travel over the early Easter holiday period. While the transatlantic and intra-European markets showed promising recovery, conflicts in regions like Gaza and Ukraine impacted the Middle East and Far East routes.

Despite challenges, IAG narrowed its after-tax loss to €4 million from €87 million in the same period last year. Operating surplus rose from €9 million to €68 million, with revenues reaching €6.42 billion and passenger numbers up by 8.6%.

Luis Gallego, IAG’s CEO, highlighted ongoing transformation initiatives and strong demand, especially during Easter, contributing to positive results. He emphasized the group’s strength in core markets and investments improving punctuality and customer experience.

Gallego expressed confidence in the upcoming summer season, noting sustained high demand for travel. However, challenges persist outside core markets, with revenues affected by conflicts in regions like Africa, the Middle East, and South Asia.

The group’s debt reduced to €7.4 billion from €9.2 billion due to strong cash flows, despite heavy borrowing during the pandemic. Notably, while BA and Iberia operated profitably, Aer Lingus and Vueling reported losses.

IAG’s shares have recently shown signs of recovery, hitting a near three-year high, reflecting renewed investor confidence in the group’s prospects.

Read more:
BA owner IAG boosts staff by 1,700 to meet summer demand surge

0
FacebookTwitterGoogle +Pinterest
previous post
They say size doesn’t matter. They’re lying
next post
WFH Parents Accused of Fuelling Increase in Friday School Absences

You may also like

Building Bridges: How 3G Capital Partners with Family-Owned...

November 25, 2024

The Role of Detailed Financial Annual Reports in...

January 27, 2025

UKEF gives British exporters £6.5Bn boost

June 28, 2023

Getting to Know You: Aduke McCoy, Educational and...

October 4, 2022

UK economy grows 0.1% in November

January 13, 2023

UK borrowing surpasses forecasts as debt reaches 100%...

September 20, 2024

Jeff Bezos to divest $5bn of Amazon shares...

July 7, 2024

AMIRA & CO Is Proof That Disrupting the...

November 9, 2022

Reform UK clashes with Bank of England over...

June 9, 2025

Soup Sales Surge as Rainy Spring Affects Consumer...

June 18, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Trump opens door to 600,000 Chinese students amid Beijing trade talks

      August 26, 2025
    • Epstein estate hit with new House subpoena for ‘client list,’ call logs

      August 25, 2025
    • Trump’s Blast of Hot Air on Flag Burning

      August 25, 2025
    • The AI Action Plan: The Risks of Federal Ideological Bias Action

      August 25, 2025
    • Bolton unleashes on Trump Ukraine policy days after FBI raid

      August 25, 2025
    • Trump threatens lawsuit over century-old Senate tradition delaying his nominees

      August 25, 2025

    Categories

    • Business (8,876)
    • Investing (2,239)
    • Politics (16,487)
    • Stocks (3,228)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved