{"id":189527,"date":"2021-02-26T14:04:00","date_gmt":"2021-02-26T11:04:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/british-airways-owner-iag-suffers-record-e7-4-billion-loss\/"},"modified":"2021-02-26T14:04:00","modified_gmt":"2021-02-26T11:04:00","slug":"british-airways-owner-iag-suffers-record-e7-4-billion-loss","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/british-airways-owner-iag-suffers-record-e7-4-billion-loss\/","title":{"rendered":"#\n  British Airways owner IAG suffers record \u20ac7.4 billion loss"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a373c8f06d5a\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a373c8f06d5a\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/british-airways-owner-iag-suffers-record-e7-4-billion-loss\/#IAG_expects_to_fly_about_20_of_its_2019_schedule_in_the_first_quarter_of_this_year\" >IAG expects to fly about 20% of its 2019 schedule in the first quarter of this year<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/british-airways-owner-iag-suffers-record-e7-4-billion-loss\/#Lina_Saigol\" >Lina Saigol<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#<br \/>\n  British Airways owner IAG suffers record \u20ac7.4 billion loss<br \/>\n<\/strong>&#8221;<\/p>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"IAG_expects_to_fly_about_20_of_its_2019_schedule_in_the_first_quarter_of_this_year\"><\/span>\n  IAG expects to fly about 20% of its 2019 schedule in the first quarter of this year<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000180506\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       British Airways owner International Consolidated Airlines<br \/>\n        IAG,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/208070069\/delayed\" class=\"positive\">+3.81%<\/bg-quote><br \/>\n       plunged to the biggest loss in its history on Friday, as it called for the introduction of digital health passes for passengers to restart international <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">travel<\/a>.<\/p>\n<p> The airlines group reported a full-year operating loss of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.iairgroup.com\/~\/media\/Files\/I\/IAG\/press-releases\/english\/2021\/Full%20year%20results%20release%20for%20the%20year%20to%20December%2031%202020.pdf\" class=\"icon none\">\u20ac7.4 billion<\/a> ($9 billion), including exceptional items relating to fuel and currency hedges, early fleet retirement, and restructuring costs.\u00a0<\/p>\n<div class=\"paywall\">\n       That compared with a \u20ac2.6 billion profit in 2019, highlighting the scale of the challenges facing the airline industry as new strains of the coronavirus that causes COVID-19 continue to shut borders and ground aircrafts.<\/p>\n<p>IAG\u2019s operating loss before exceptional items came in at \u20ac4.4 billion, slightly better than analysts\u2019 expectations.<\/p>\n<p>Total group revenue fell 69% during the year, to \u20ac7.8 billion, as IAG<br \/>\n        IAG,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210132433\/delayed\" class=\"positive\">+2.73%<\/bg-quote><br \/>\n       \u2014 which also owns Iberia, Aer Lingus and Vueling \u2014 flew just a third of its normal schedule in 2020. Capacity for the first quarter of 2021 will be 20% of 2019 levels, down from the previous quarter\u2019s 27%, the company said.<\/p>\n<p>Luis Gallego, IAG\u2019s chief executive who took over from Willie Walsh in September, said 2020 had been a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.iairgroup.com\/~\/media\/Files\/I\/IAG\/press-releases\/english\/2021\/Full%20year%20results%20release%20for%20the%20year%20to%20December%2031%202020.pdf\" class=\"icon none\">year of crisis<\/a> for the airline industry, but that vaccinations were progressing well and infection rates \u201care going in the right direction.\u201d<\/p>\n<p>Shares in IAG, which have fallen by 50% over the last year, compared with a decline of 6% for the wider FTSE 100, rose 3.92% in early London trading on Friday.<\/p>\n<p>U.K. airline stocks were given a boost earlier this week after Prime Minister Boris Johnson announced his road map to take England out of its third lockdown.<\/p>\n<p><strong>Read:<\/strong> Airlines and travel stocks surge as U.K. sets out lockdown exit plans<\/p>\n<p>EasyJet<br \/>\n        EZJ,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/202825892\/delayed\" class=\"positive\">+2.62%<\/bg-quote><span>,<\/span><br \/>\n       Ryanair<br \/>\n        RYA,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/202851567\/delayed\" class=\"positive\">+0.61%<\/bg-quote><span>,<\/span><br \/>\n       and TUI<br \/>\n        TUI1,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/206000695\/delayed\" class=\"negative\">-0.28%<\/bg-quote><br \/>\n       all reported a jump in bookings to destinations including Spain and Greece, after\u00a0Johnson said international trips could potentially resume from May 17, subject to review and if there was no resurgence in coronavirus. But it is still unclear whether that will include IAG\u2019s long-haul routes.<\/p>\n<div id=\"cx-membership-tile\"><\/div>\n<p>\u201cGetting people traveling again will require a clear road map for unwinding current restrictions when the time is right,\u201d said IAG\u2019s Gallego, as he called for international common testing standards and the introduction of digital health passes \u201cto reopen our skies safely.\u201d<\/p>\n<p><strong>Read: <\/strong>Europe moves toward COVID-19 vaccine passports but not every country is on board<\/p>\n<p>Passenger revenue dropped 75.5% from \u20ac22.5 billion to \u20ac5.5 billion. Given the uncertainty and duration of the coronavirus crisis, IAG<br \/>\n        IAG,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210508413\/delayed\" class=\"positive\">+5.26%<\/bg-quote><br \/>\n       couldn\u2019t provide profit guidance for 2021, the company said.<\/p>\n<p>\u201cIAG\u2019s biggest problem is not a pickup in passengers on an economic reopening. It will be able to benefit from the return of domestic passengers like its smaller peers easyJet and Ryanair,\u201d said Michael\u00a0Hewson, chief market analyst at CMC Markets U.K. \u201cIts main problem will be getting the same levels of long-haul business travel that it had before the pandemic. This is where most big carriers make their money, and it is here that normal service may well take a little longer to return to the same levels they were in 2019.\u201d<\/p>\n<p><strong>Read:<\/strong> COVID-19 hotel quarantine from high-risk countries to start in U.K. from Feb. 15<\/p>\n<p>The airline group has taken steps to bolster its liquidity, which currently stands at \u20ac10.3 billion, following a \u20ac2.7 billion capital increase and a \u00a32 billion U.K. export finance loan commitment. \u201cThis is higher than at the start of the pandemic,\u201d Gallego said, adding that the group continues to reduce its cost base to ensure it emerges \u201cin a stronger competitive position.\u201d.<\/p>\n<p>Net debt stood at \u20ac9.8 billion at the end of 2020, almost 30% higher than the previous year.<\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>      <span>By<\/span><\/p>\n<div class=\"author  hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Lina Saigol\",\"subhead\":\"The Wall Street Journal\",\"list\":[]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Lina_Saigol\"><\/span>Lina Saigol<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B21005575-02D4-D4B5-4572-D2C11AC66636%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# British Airways owner IAG suffers record \u20ac7.4 billion loss &#8221; IAG expects to fly about 20% of its 2019 schedule in the first quarter of this year British Airways owner International Consolidated Airlines IAG, +3.81% plunged to the biggest loss in its history on Friday, as it called for the introduction of digital health&#8230;<\/p>\n","protected":false},"author":1,"featured_media":189528,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-189527","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/189527","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=189527"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/189527\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/189528"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=189527"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=189527"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=189527"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}