International Airlines Group suffered losses of approximately $967 million in the second quarter. Last year’s loss of €2.2 billion was better than this year’s gain of €1.2 billion. A report claims that the operating loss for the first half of the year will be €2 billion. During the second quarter of 2019, the capacity of airlines Aer Lingus, British Airways, and Iberia combined was only 21.9% of what they had planned for the year.
However, government regulations and requirements to quarantine all citizens continue to keep the figure harmed by the Covid-19 pandemic. The company predicts it will fly around 45% of its 2019 capacity in Q3. After all, this is still uncertain and under review.
To fill the demand already there when travel restrictions are lifted, our goal is to have the airline in the best possible operational shape as quickly as possible, stated the IAG CEO, Luis Gallego. Because Latin American and Spanish domestic markets were more significant, and travel policies were less strict, this trend originated in Latin America and Spanish-speaking countries. The good news is that rising vaccination rates are helping us to capitalize on our advantage now.
IAG welcomes the recent announcement that fully vaccinated travellers from EU, and US Amber countries will no longer be quarantined upon arrival in the UK. This is a significant step towards reopening the transatlantic travel corridor. Considering the impact and duration of Covid-19, IAG said it could not give guidance for 2021.