 for the first nine months of 2021.){kind=link}
The owner of British Airways, IAG, reported a €2.6bn (£2.3bn) for the first nine months of 2021.
Shares in IAG fell 3% this morning as it also predicted full-year losses to hit €3bn. In the three months to the end of September were just 43% of pre-pandemic levels.
However, the UK-US flights are set to open on Monday, which will boost passenger numbers.
“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,” said Luis Gallego, IAG boss.
“We continue to capitalise on surges in bookings when travel restrictions are lifted.”
Richard Hunter, from Interactive Investor, commented on the airlines results: “Cash operating costs for the third quarter were €260m per week, underlining the need for the airline to return to some kind of normality as soon as possible. A cocktail of borrowings which have been necessary to keep the company afloat has resulted in a net debt figure which now stands at €12.4bn”.