News
IAG increased Asia-Pacific capacity by 258% in 2023
March 1st 2024
International Airlines Group (IAG) built capacity to the Asia-Pacific by 258% last year compared with 2022, but its network into the region was still 59.7% smaller than in 2019. Read More » Passenger load factor improved 4.4 points, to 88.4% against 2022 and 2.6 points compared with 2019, IAG’s full-year results, released yesterday, said. British Airways (BA) services from London to Shanghai and Beijing resumed in northern Summer 2023 and frequency has been increased from the UK to Hong Kong and Tokyo Haneda. Additionally, Iberia will resume Spain-Tokyo next October. In 2023, IAG said, the Asia-Pacific continued to be the least recovered region from COVID-19 in the world as pandemic restrictions were removed later than in other markets. Because of the recovery lag, IAG’s major operator to Asia, BA, restored 90.1% of its total 2019 capacity into the region in 2023. IAG identified the Qatar Joint Business initiative as an opportunity to develop its network and customer proposition in Asia. The group more than doubled its operating profit in 2023, to 3.51 billion euro (US$3.81 billion), compared with 1.25 billion euro in 2022. The results also were better than the 3.25 billion euro operating profit IAG reported in 2019.
