Profit was up to €2.7 billion for the year, with overall revenue up 9% to €32.1 billion.
Beating analysts’ consensus, the operating profit was up 22%.
IAG said demand remained strong, with passenger traffic up to 122 million and average load factor at 86.5%.
“These results highlight the quality of our businesses and effectiveness of our strategy,” CEO Luis Gallego said.
It revealed plans for a €1 billion buyback while declaring a share dividend.
However, it is not all rosy.
IAG warned that British Airways’ short-term passenger growth will be affected by delays in new aircraft deliveries as well as its ongoing e ngine maintenance issues.
Because of the latter, BA has cut routes including transatlantic services.
Tags: Luis Gallego, British Airways