IAG Group, the parent company of British Airways and Iberia, announced on Friday a multi-billion-dollar order for 32 Boeing 787s and 21 Airbus A330s, while reaffirming its 2025 outlook despite "geopolitical and macroeconomic uncertainty."
The group also disclosed in a statement that it had exercised options in March for 12 Airbus A350s and six Boeing 777s, bringing the total number of firm orders announced to 71.
During the unveiling of a trade agreement between the UK and the US regarding Donald Trump’s tariffs, US Commerce Secretary Howard Lutnick had mentioned a forthcoming aircraft order "in the UK" worth $10 billion, without revealing the airline’s name.
Specifically, the order for the 32 Boeing 787-10s amounts to $12.7 billion, and the 21 Airbus A330-900neos total $7.8 billion at their catalogue prices.
However, IAG stated that it secured “a substantial discount” on each order, though it did not specify the amount.
These 53 aircraft are scheduled for delivery between 2028 and 2033.
These orders “underline our commitment to strengthening our airline brands and enhancing our customer offering,” said IAG CEO Luis Gallego in a statement.
The group also reported a net profit of €176 million in the first quarter, compared to a loss of €4 million last year, and maintained its unchanged outlook for the current year, “while bearing in mind geopolitical and macroeconomic uncertainty.”
Like other airlines, IAG suffered significant losses during the Covid-19 pandemic but rebounded strongly, increasing its annual profit sixfold in 2023 to reach €2.7 billion in 2024.
