The owner of British Airways will plunge to losses of €3 billion this year, despite getting its flying schedule back up to more than half the levels it was operating before the pandemic.
Luis Gallego, the chief executive of International Consolidated Airlines Group, talked yesterday of a “significant recovery underway” and called next week’s reopening of crucial transatlantic air routes “a pivotal moment for our industry”, but he conceded that IAG would lose more than €300 million in the present trading quarter.
Profits at the group, which includes British Airways, Iberia, Aer Lingus and Vueling, the short-haul carrier, have long depended on flying high-frequency services between London and New York and shifting high-fare-paying business and other passengers between Europe and the Americas.
https://news.google.com/__i/rss/rd/articles/CBMiZ2h0dHBzOi8vd3d3LnRoZXRpbWVzLmNvLnVrL2FydGljbGUvYnJpdGlzaC1haXJ3YXlzLW93bmVyLXdhcm5zLW9mLWFwcHJvYWNoaW5nLTNibi1hbm51YWwtbG9zcy0zNTlibjd0bTLSAQA?oc=5
2021-11-06 00:01:00Z
CBMiZ2h0dHBzOi8vd3d3LnRoZXRpbWVzLmNvLnVrL2FydGljbGUvYnJpdGlzaC1haXJ3YXlzLW93bmVyLXdhcm5zLW9mLWFwcHJvYWNoaW5nLTNibi1hbm51YWwtbG9zcy0zNTlibjd0bTLSAQA
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