International Airlines Group narrows losses in second quarter

International Airlines Group has reported an working lack of €967 million for the second quarter.

The determine is an enchancment on the lack of €2.2 billion seen in the identical interval final 12 months.

The reported working loss for the half of 2021 was thus, €2 billion.

The group – which owns Aer Lingus, British Airways and Iberia – mentioned passenger capability in quarter two was simply 21.9 per cent of 2019.

The determine continues to be adversely affected by the Covid-19 pandemic, along with authorities restrictions and quarantine necessities.

IAG mentioned it at present expects to fly round 45 per cent of 2019 capability within the third quarter.

However, this stays unsure and topic to ongoing evaluation, a press release defined.

Luis Gallego, IAG chief govt, mentioned: “In the quick time period, our focus is on guaranteeing our operational readiness, so we now have the pliability to capitalise on an setting the place there’s proof of widespread pent-up demand when journey restrictions are lifted.

“This is mirrored in Iberia’s and Vueling’s outcomes.

“They had been the very best performers inside the group within the second quarter reflecting stronger Latin American and Spanish home markets pushed by fewer journey restrictions.

“We know that recovery will be uneven, but we’re ready to take advantage of a surge in air travel demand in line with increasing vaccination rates.”

He added: “We welcome the latest announcement that totally vaccinated travellers from amber nations within the EU and the US will not should quarantine upon arrival within the UK.

“We see this as an important first step in fully re-opening the transatlantic travel corridor.”

Given the uncertainty over the timing of the lifting of presidency journey restrictions and the continued impression and length of Covid-19, IAG mentioned it was not able to supply steerage for 2021.

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