International Airlines Group (IAG), the parent company of British Airways announced an annual operating profit of €3,230 million for 2018 and that’s an increase of 9.5% compared to 2017 (*). Next to the release of financial results, the airline group announced an order of 18 Boeing 777-9 aircraft, plus 24 optional. A commitment, valued at up to $18.6 billion at list prices.
British Airways’ order will be used to replace 14 Boeing 747-400 and 4 Boeing 777-200 between 2022 and 2025. The Boeing 777-9 (or 777X) builds on the market-leading 777 and the 787 Dreamliner and offers airlines the largest and most-efficient twin-engine jet in the world. Each 777-9 will be fitted with 325 seats in four different cabins. General Electric GE9X engines will power the aircraft.
In recent years, the airline has introduced the super-efficient 787 Dreamliner family to replace its medium-sized widebody jets. British Airways has 135 wide-bodied long-haul aircraftin its fleet (12 A380s, 30 B787s, 12 B777-300ERs, 46 B777-200s and 35 B747s) with 12 more B787s, four B777-300ERs and 18 A350s on order.
“The new 777-9 is the world’s most fuel efficient longhaul aircraft and will bring many benefits to British Airways’ fleet. It’s the ideal replacement for the 747 and its size and range will be an excellent fit for the airline’s existing network,” said Willie Walsh, IAG chief executive. “This aircraft will provide further cost efficiencies and environmental benefits with fuel cost per seat improvements of 30 per cent compared to the 747. It also provides an enhanced passenger experience.”
(*) IAG’s annual profit by airline:
- British Airways £1,952m
- Aer Lingus €305m
- Iberia €437m
- Vueling €200m