IAG posts first quarter loss

International Consolidated Airlines Group (IAG) has reported a first quarter operating loss of €1,068 million, an improvement on the 2020 first quarter operating loss of €1,860 million). Before exceptional items, IAG’s operating loss was €1,135 million. IAG passenger revenue for the first quarter was €459 million – some 88% lower than in 2020 – with total revenue down by 78.9% to €968 million. Passenger capacity was 19.6% of 2019 and continues to be adversely affected by the COVID-19 pandemic, together with government restrictions and quarantine requirements. IAG’s current passenger capacity plans for quarter two are for around 25% of 2019