The owner of British Airways is sitting on a potential windfall profit from hundreds of millions of pounds worth of flight vouchers issued during the pandemic and never redeemed.
IAG, which also owns Iberia, Aer Lingus and Vueling, revealed in its last annual report that it had about £550 million worth of unclaimed vouchers. British Airways and other airlines offered passengers vouchers rather than refunds when their flights were cancelled at short notice. Thousands of passengers took up the offer, but a substantial number have not claimed their new flights.
The group could book the amount outstanding as revenue – and enjoy a welcome boost to profit – once the vouchers expire. Most were due to run out this year, but British Airways has pushed
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