By contrast, he said the British corporate travel market is “going to take some more time” to bounce back but is “evolving well”.
Around 90pc of UK companies now offer hybrid working to employees, who spend an average of 1.5 days at home each week, according to data from the IFO Institute.
That compares with an average of one day for counterparts in Germany, and 0.6 in France.
This has led to a number of white collar companies taking steps to downsize offices over the past year, as staff are increasingly reluctant to give up remote working.
However, IAG’s latest figures reveal that the drop-off in corporate travel does not necessarily mean people are avoiding the priciest fares, as there has been a surge in leisure bookings across first and business-class cabins.
Occupancy levels in premium berths on BA’s North Atlantic flights reached a record 74pc in the first quarter.
Meanwhile, demand for flights to and from Asia, once an important source of long-haul revenue for European carriers, remains low.
Flights in the Far East accounted for just 3.7pc of IAG’s capacity in the quarter, which is less than half of what it was before Covid. That is despite most destinations in the Asia-Pacific region being restored.
Overall, IAG posted operating profits of €68m (£58.5m) from January to March, up from €9m a year earlier. Of that, BA contributed £22m.