Pre-tax losses for International Airlines Group hit £916 million between January and March.
06 May 2022
British Airways’ parent company has recorded a heavy loss for the first three months of the year as the Omicron variant of coronavirus reduced passenger numbers.
Pre-tax losses for International Airlines Group (IAG) hit £916 million, although this was an improvement of the £1.2 billion loss in the same period a year ago.
The company said it saw an improvement in business travel during the period, and the overall proportion of seats filled on flights was better than a year ago at the height of global lockdowns.
IAG chief executive Luis Gallego said the company’s losses in the first three months of the year reflect “normal seasonality, the impact of Omicron and costs associated with ramping up operations”.
Demand is “recovering strongly” and the firm expects to return to profitability during the period from April to June onwards and in 2022 as a whole, he said.