British Airways owner International Airlines Group is aiming for annual profit around 20% higher than previous targets over the next four years.

IAG said today that it was targeting earnings before interest, tax, depreciation, amortization and rent of €6.5 billion a year between 2018-2022.

This compares to a target of an annual goal of €5.3 billion between 2016-2020.

IAG’s target for an annual operating profit margin between 12-15% was also unchanged, the group said at a capital markets day.