BA owner IAG ‘focused’ on recovery ahead of US restart

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By Lisa James
Home » BA owner IAG ‘focused’ on recovery ahead of US restart

British Airways owner IAG has posted a smaller operating loss for the third quarter and is now focused on returning to profitability next year.

The company, which also owns Iberia, Aer Lingus and Vueling, flew just over 40% of its normal schedule in the three months to the end of September, but expects the figure to increase to 60% in the final three months of 2021.

The latest results from IAG show a smaller operating loss of €452 million (£384.8 million) for the third quarter, leading to an overall deficit of €2.5 billion (£2.1 billion) for the first nine months of the year.

IAG warned it will lose another €3 billion this year, compared to a €4.3 billion loss for 2020, but is focused on recovery, Chief Executive Luis Gallego said.

He said: “The full reopening of the transatlantic travel corridor from Monday is a pivotal moment for our industry. British Airways is serving more US destinations than any transatlantic carrier and we’re delighted that we can get our customers flying again.”

“In the short term, we are focused on getting ready to operate as much capacity as we can and ensuring IAG is set up to return to profitability in 2022.”

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