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British Airways-owner IAG trims capacity outlook; jet fuel bill eases

International Airlines Group reported a 35% profit slump in the three months ending in June, driven by a 23% surge in fuel and emissions costs linked to the conflict in the Middle East.
Pre-Tax profits plummeted to 732 million euro in the second quarter, falling from 1.1 billion euro during the same period last year, though revenue remained stable at 8,883 million euro.
IAG chief executive Luis Gallego insisted the group maintains "excellent fundamentals" and can navigate "near-term headwinds" using its portfolio of British Airways, Iberia, Vueling, and Level.
About 57% of seats are booked for the second half of the year, as the company expects travel demand to "remain strong" across its network, matching revenue patterns from last year.
Management added that long-haul markets are expected to "remain positive" while short-haul flights will be "competitive," positioning IAG to manage regional conflict impacts on operations.

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