airline · GB
IAG's flag-carrier subsidiary; hub at London Heathrow. IAG discloses BA's segment results in GBP (functional currency); quarterly granularity is limited to segment operating profit.
New results likely published — extraction pending · estimated from reporting cadence
Op. profit
Load factor
Millions of GBP, as reported · calendar-normalized quarters
Operating profit ÷ revenue, computed from reported figures
| Period | Revenue | Op. profit | Load factor | ASK | Net result | Load factor |
|---|---|---|---|---|---|---|
| Q1 2026 | ||||||
| Q4 2024 |
BA's Q1 operating profit almost doubled to £186m, aided by an earlier Easter, favourable FX, and a weak prior-year base hit by the March 2025 Heathrow closure.
The Middle East conflict (escalating from 28 Feb 2026) hit ~3% of Group capacity operated mostly by BA; BA suspended Gulf flights and redeployed capacity to India, Singapore, Bangkok and the Maldives.
The Group is 70% hedged for the rest of 2026, cushioning the sharp jet-fuel price rises from late February; spot jet fuel hit ~$1,725/tonne at end-March, roughly double end-February.
Higher fuel costs are expected to push full-year profit below original plans; management expects to recover ~60% of the higher fuel cost and now sees FY fuel cost of c.€9.0bn.
BA passenger traffic outgrew capacity (RPK +2.1% vs ASK -0.3%), lifting load factor 2.0pts to 81.9% amid strong premium and transatlantic demand.
BA holds separate investment-grade credit ratings from the Group: S&P BBB, Moody's Baa2 and Fitch BBB (all stable).