International Consolidated Airlines Group said it beat market expectations in the third quarter, driven by strong leisure demand across all airlines, and that it expects a solid recovery in 2023 with capacity nearing prepandemic levels.
The airline group—which houses carriers British Airways, Iberia and Vueling, among others—reported adjusted operating profit of 1.745 billion euros ($2.12 billion), compared with EUR1.22 billion a year prior. This beat an analyst consensus of EUR1.51 billion, taken from FactSet.
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