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IAG 2Q passenger capacity is 21.9% in 2019

Anthony O. Gori Ainoff

 

International Consolidated Airlines Group SA said on Friday that it did not provide financial guidance for 2021 due to the continued impact of the pandemic, with net losses shrinking in the first half after recording low costs. rice field.

According to IAG, passenger capacity in the second quarter was 22% of 2019 levels, affected by Covid-19 and government regulations and quarantine requirements. Capacity in the third quarter is said to be around 45% of 2019 levels, which remains uncertain and is subject to ongoing review.

The airline group, which has airlines such as British Airways, Iberia and Vueling, had a pre-tax loss of € 2.34 billion ($ 2.78 billion) for the six months to June 30, compared to the same period last year.

Net loss in the first half was € 2.05 billion, while net loss in the year-ago quarter was € 3.81 billion.

Revenues in the first half were € 2.21 billion and were € 5.29 billion in the year-ago quarter.

“In the short term, the focus is on ensuring operational readiness, so there is evidence of growing demand when travel restrictions are lifted,” said Luis Gallego, CEO. We have the flexibility to take advantage of an environment. “

 

Write a letter to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

IAG 2Q passenger capacity is 21.9% in 2019

Source link IAG 2Q passenger capacity is 21.9% in 2019

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