IAG, the group that owns airlines such as Iberia, Vueling or British Airways, lost 2,665 million euros in the first nine months of the year (January-September), half of the losses recorded in the same period of 2020, when they amounted to 3,220 million,
according to the results published this Friday.
In the third quarter, which corresponds to the summer months, its losses fell to 574 million euros, partly
thanks to the resumption of air traffic this summer.
They represent a third of those registered in the same period of 2020, when they were 1,800 million.
At that time, restrictions on mobility to stop the pandemic were still very strong.
Air capacity in this summer period was 43% (compared to 2019, before Covid), 20% more than in the second quarter, and
the group expects to reach 60% in the last quarter of the year.
"There is a significant recovery underway
and all the teams of the Group's airlines are making a great effort to take advantage of every opportunity. We continue to capitalize on the increase in bookings that occurs when travel restrictions are eliminated," said Luis Gallego. , CEO of the group, who has indicated that
the group "expects to be profitable again in 2022."
In the nine months of the period, revenues amounted to 4,921 million, 24% less than in 2020, and passenger, 35%, to 3,140 million.
"All our airlines have improved their performance and
the loss of the group's operations has been reduced by more than half
compared to the previous quarters," said Gallego, who highlighted that in the third quarter, for the first time since start of the pandemic, cash flow from operations was positive.
The group's liquidity reaches 12.1 billion euros, the highest level recorded so far.
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