IAG Profit Drops 21% to €1 Billion as Iran War Fuel Spike Halts Capacity Growth
Updated
Updated · The Guardian · Jul 31
IAG Profit Drops 21% to €1 Billion as Iran War Fuel Spike Halts Capacity Growth
1 articles · Updated · The Guardian · Jul 31
Summary
IAG said first-half profit after tax fell 21% to €1 billion, even as revenue edged up 1% to €16 billion.
The airline group expects no passenger-capacity growth this year because fuel costs jumped after attacks on Iran and Tehran's closure of the Strait of Hormuz.
IAG said demand should remain strong, but its cost controls can only partly offset the higher fuel bill.
The results suggest the British Airways owner is preserving earnings through pricing and revenue resilience while scaling back expansion plans amid war-driven energy disruption.