IrelandAviationUnited KingdomAviationIberiaAviationVuelingThe parent company of the company, International Aviation Group (IAG), announced its 2023 full-year results, with a significant increase in profitsMore than double last year!
Picture: IAG Two Brothers ** NetworkThe transatlantic market remains at the core
The company's financial results show that IAG and its joint business partners control nearly half of the market (45%) between Europe and North America and account for 23% of the group's total available seat kilometres (ASK) capacity.
According to the data, IAG has about 150 daily flights to and from 29 destinations in North America, which is more than any other competitor.
In terms of capacity, the group recovered 957% capacity (measured by ASK), with capacity in Q4 2023 at 98% of pre-pandemic levels6%。
As a result, the group generated €25.8 billion ($27.9 billion) in passenger revenue, plus other revenues including freight**, for IAG's total revenue in 2023 to €29.4 billion ($31.8 billion).
Compared to 2022, passenger revenue increased by 326%, total revenue increased by 277%。
At the same time, the cost increased by 191%, from 21.7 billion euros ($23.5 billion) in 2022 to 25.9 billion euros ($28.0 billion).
Image: British Airways **See watermarkThis year may usher in the delivery of the A321XLR
If the ultra-long-haul A321XLR is delivered in 2024, the aircraft will allow the group to take advantage of the location of its hub airport to continue to refine the transatlantic route network at a lower cost, IAG said.
This creates a competitive advantage with other European airlines.
While the group has not yet elaborated on which airlines the A321XLR will be delivered to.
But in February of this year, at Airbus Hamburg-Finkenvelde Airport (XFW), an A321XLR with an Aer Lingus tail was spotted.
Image: A321XLR **See Watermark In 2023, IAG took delivery of 34 aircraft:
10 by British Airways, 14 by Iberia, 6 by Vueling, 2 by Aer Lingus, and 2 by Level Airlines.
Picture: Aer Lingus **See watermark 28 of the 34 aircraft were purchased directly from Airbus and Boeing, while six were leased from aircraft leasing companies.
IAG plans to take delivery of 181 aircraft in the future, including a number of options that have yet to be confirmed.
In addition, the group plans to take delivery of 50 Boeing narrowbodies between 2025 and 2028.
Picture: Vueling Spain ** networkIAG said demand for air travel remains strong, especially in the leisure sector.
As of Feb. 25, the airline has sold out 92% of its seats in the first quarter of 2024 and 62% in the first half of 2024, further leading the way last year.
The group reiterated that its airlines had a strong performance in 2023, mainly driven by leisure travel, but business travel continues to lag for now.
Can it still make money in 2024?
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