IAG FY 2022 Results

About this update from International Consolidated Airlines Group Sa

[{"type":"text","content":"\n \n \n \n \n \n \n \n \n \n \n \n \n \n IAG full year results 2022\n \n Strong recovery in profits in 2022\n \n •\n In 2022 we saw a strong recovery in our core markets as COVID-19 restrictions were lifted, which drove revenue momentum and a return to profit with significantly positive operating cash flow\n \n \n •\n Further recovery in profits expected in 2023, with full year operating profit before exceptional items expected to be in the range of €1.8 to €2.3 billion, based on current foreign exchange rates and jet fuel forward prices. However, we are mindful of uncertainty in the macro environment and fuel and non-fuel cost inflation\n \n \n •\n Committed to generating long-term shareholder value and confident in returning to pre-COVID-19 levels of operating profit within the next few years\n \n \n Luis Gallego, IAG Chief Executive Officer, said:\n \n \"2022 was a year of strong recovery, driven by sustained leisure demand and markets reopening. At this point of the year we continue to see robust forward-bookings, while also remaining conscious of global macro-economic uncertainties. We are transforming our businesses, with the intention of returning IAG to pre-COVID levels of profit within the next few years, through major initiatives to improve customer experience and operational performance. Our unique group structure allows us to maximise revenue and cost synergies, and invest capital to achieve strong returns, whilst continuing progress towards net zero by 2050.\n \"With the acquisition of Air Europa now agreed but subject to regulatory and other approvals which could take around 18 months, we are intending to welcome another leading airline to the Group. This acquisition will enable us to grow Madrid as a hub, offering a gateway to Latin America and beyond, with benefits for customers, employees and shareholders.\n \n \"I would like to thank the teams across IAG for their exceptionally hard work in addressing the challenges of ramping up the operation throughout the year.\"\n \n \n Financial summary:\n \n \n \n \n \n \n \n \n \n \n \n \n \n Year to December 31\n \n \n \n \n \n \n \n \n \n \n \n Three months to December 31\n \n \n \n \n \n \n Statutory results (€ million)\n \n \n \n \n 2022\n \n \n \n \n 2021\n \n \n \n \n \n \n \n \n \n \n \n 2022\n \n \n \n \n 2021\n \n \n \n \n \n \n Total revenue\n \n \n \n \n 23,0...

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