DUBLIN, Ireland: Aer Lingus's parent company, International Airlines Group (IAG), has reported a significant jump in profits.

The company attributes its strong financial performance to a strategic transformation program and increased passenger demand.

The airline group, which also owns British Airways, Iberia, Vueling, and Level, recorded an operating profit of 4.3 billion euros in 2024, marking a 22.1 percent increase from the 3.5 billion euros reported in 2023. Revenue grew by nine percent, a boost IAG credited to its "market-leading network, strong brands, and operational focus."

IAG also reported a 6.2 percent rise in available seat kilometers, a key measure of airline capacity, reflecting an expansion in operations. The group carried 122 million passengers last year, up 5.6 percent from 2023.

Chief Executive Luis Gallego highlighted the company's strategic direction and operational efficiency as key drivers of growth. "These results highlight the quality of our businesses and effectiveness of our strategy, underpinned by the successful execution of our transformation program across the group," he said.

Gallego emphasized that IAG is focused on enhancing its brands to remain the first choice for customers while maintaining a disciplined capital allocation to drive long-term value. "We are delivering world-class margins and returns, in line with the targets we set out to the market just over a year ago," he added.

In line with its strong financial performance, IAG announced plans to pay a final dividend to shareholders for 2024, bringing the total dividend payout for the year to 435 million euros. Additionally, the company intends to return up to 1 billion euros in excess capital to shareholders over the next 12 months.

The airline group's continued expansion and operational improvements signal confidence in the industry's recovery, as travel demand remains strong despite global economic uncertainties.