Net Profit Soars, Exceeding Expectations
The International Consolidated Airlines Group has reported a significant increase in net profit for the year 2023, surpassing consensus estimates. The travel demand remained robust throughout the year, contributing to this exceptional performance.
Key Financial Highlights
- Net Profit: The net profit for the year was recorded at 2.66 billion euros ($2.88 billion), a substantial increase from EUR431 million in the previous year.
- Pretax Profit: The pretax profit for 2023 stood at EUR3.06 billion, compared to EUR415 million in the preceding year.
- Revenue: The total revenue for the year surged to EUR29.45 billion from EUR23.07 billion in the previous year.
Operational Performance
- Capacity: The airline group operated at 98.6% capacity in the fourth quarter of 2023 and maintained full-year capacity at 95.7% of pre-pandemic levels.
- Future Growth: IAG aims to expand its capacity by approximately 7% in 2024, reflecting confidence in the recovery of the travel industry.
Commitment to Shareholder Value
IAG remains dedicated to creating sustainable shareholder value and enhancing cash returns for investors. The company's focus on financial performance and operational efficiency has resulted in a successful year.
Overall, International Consolidated Airlines Group's strong financial results demonstrate its resilience and strategic planning amidst a challenging global environment.
For more information, please visit the official website of International Consolidated Airlines Group.
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