Climbing out of trouble? Rise in share price suggests BA's turbulent days may be over

It's been a long and turbulent time since anyone used British Airways' old slogan "the world's favourite airline" with a straight face.

- Gwyn Topham Pamela Duncan Michael Goodier

After a decade during which the UK flag carrier was tarnished by cost-cutting, IT fiascos, mass redundancies and strikes, BA was then pushed to the brink by Covid.

Hopes of a smooth recovery disappeared like lost luggage, as cancellations and delays plagued an airline seen as pricier than short-haul competitors and dowdier than the Gulf carriers.

With complaints about customer service, promises by bosses to turn things around were met with some scepticism.

And yet, something strange has happened.

The share price of IAG, the Spanish-owned group whose fortunes rest predominantly with BA's, has doubled in the past 10 months - and not just on the back of growing profits revealed in November.

City analysts have concluded that BA really - no, really - is getting better after all.

Last Christmas, the airline's chief executive, Sean Doyle, started talking of the turnaround.

He promised more was coming: comfier seats, better quality service, improved reliability.

In spring, the airline showcased its plans for a £7bn investment.

And investors appear to be buying it.

Andrew Lobbenberg, Barclays' head transport analyst, said: "It really is on an upward curve, albeit from what was quite a low starting point.