British Airways has created 1,700 jobs as it prepares for a summer boom that will allow its parent company IAG to match last year's big operating profit of €3.5 billion.
British Airways' recruitment drive includes cabin crew and technology specialists to boost the airline's digital services. The move follows a 7% increase in capacity as the airline expects an increase in travel in the summer.
IAG said it was close to breaking even in a traditionally challenging first quarter of the year, supported by increased travel over the early Easter holiday period. While transatlantic and intra-European markets have shown a promising recovery, conflicts in areas such as Gaza and Ukraine have affected Middle East and Far East routes.
Despite the challenges, IAG narrowed its after-tax loss to €4 million from €87 million in the same period last year. The operating surplus rose from €9 million to €68 million, with revenues reaching €6.42 billion and passenger numbers rising by 8.6%.
Luis Gallego, CEO of IAG, highlighted ongoing transformation initiatives and strong demand, especially over Easter, which contributed to the positive results. He emphasized the group's strength in core markets and investments that improve punctuality and customer experience.
Gallego expressed his confidence in the upcoming summer season, noting the continued high demand for travel. However, challenges remain outside core markets, with revenues affected by conflicts in regions such as Africa, the Middle East and South Asia.
The group's debt fell to 7.4 billion euros from 9.2 billion euros due to strong cash flows, despite heavy borrowing during the pandemic. Notably, while British Airways and Iberia were operating profitably, Aer Lingus and Vueling reported losses.
IAG shares have recently shown signs of recovery, reaching their highest level in almost three years, reflecting renewed investor confidence in the group's prospects.
