British Airways parent company International Airlines
Group reported improving corporate bookings even as passenger revenue declined year
over year to €4.3 billion during the first quarter. The company said the
decline stemmed from lower yields on leisure routes, in part because of
Easter's shift to the second quarter this year. IAG increased capacity 3.3
percent year over year during the quarter, and load factor rose 0.1 percentage
points to 79 percent. Excluding a €19 million charge related to British Airways
"transformation initiatives," IAG's operating profit reached a
first-quarter record of €170 million, up 9.7 percent year over year.