IAG third quarter results 2023 show record profit

International Consolidated Airlines Group (IAG), parent company of British Airways, Aer Lingus, Iberia and Vueling, has reported a record third quarter profit with “strong trading” across the Group and a “significantly stronger balance sheet”.     IAG posted operating profit before exceptional items of €1,745 million in the third quarter of 2023, compared to €1,216 million in the year-ago period. IAG’s operating margin was 20.2% up from 16.6% in 2022. Total revenues reached £8,646 million, up from £7,329 in Q3 2022.   IAG credited this strong performance to an increase in capacity, passenger revenue and lower costs.   IAG increased capacity, measured in available