IAG to operate no more than 30% of flights for rest of year
British Airways’ parent company IAG has announced its flight capacity between October and December will be “no more than 30%” of what it was during the same period in 2019.
As a result, the group “no longer expects to reach breakeven in terms of net cash flows from operating activities” over that quarter.
It said in a statement: “Recent overall bookings have not developed as previously expected due to additional measures implemented by many European governments in response to a second wave of Covid-19 infections, including an increase in local lockdowns and extension of quarantine requirements to travellers from an increasing number of countries.
“At the same time, initiatives designed to replace quarantine periods and increase customer confidence to book and travel, such as pre-departure testing and air corridor arrangements, have not been adopted by governments as quickly as anticipated.”