British Airways Finally Makes a Profit After 2019 in Q2

According to the reports published by IAG or International Airlines Group this Friday, 29 July, on its second-quarter results, British Airways apparently managed to make some profit for the first time since 2019.

IAG, International Consolidated Airlines Group S.A., trading as International Airlines Group, is an Anglo-Spanish multinational airline holding company with its global headquarters in London, England. This company holds several airlines, including British Airways.

After what seems like a long three years, the British carrier’s financial performance over the last quarter was revealed to be fruitful.

When the pandemic hit the world in 2020 and the activities of the entire travel industry came to a halt, most airlines around the globe saw a drastic dip in their financial performances, and British Airways was not immune to the consequences.

However, the Q2 results published by the International Airlines Group (IAG) show positive signs of progress for the UK’s national carrier British Airways.

The airline has made a profit with an operating result of £54 million for the second quarter. If this trajectory remains the same, they will be able to recover from the temporary collapse of the last two years

British Airlines has been one of many European airlines that still struggle with staff shortages.

The total quarterly operational expenditure sum for Q2 (£2.683 billion) was offset by total revenue for the period, which was £2.737 billion.

£54 million may seem like a very insignificant amount for Q2 profit, especially when compared to the £526 million profit the airlines made back in 2019. However, it is spectacularly better than the loss of £566 million the carrier had to suffer in the Q2 of 2021.

After the drop in the airlines’ employee costs by 25%, their operation costs have gone down 9% lower than Q2 in 2019. This was due to the staffing problems British Airways has been struggling with since early 2020, which caused the carrier to cut back on its summer schedule, causing disruption across all boards.