Daily Sabah logo

Politics
Diplomacy Legislation War On Terror EU Affairs Elections News Analysis
TÜRKİYE
Istanbul Education Investigations Minorities Expat Corner Diaspora
World
Mid-East Europe Americas Asia Pacific Africa Syrian Crisis Islamophobia
Business
Automotive Economy Energy Finance Tourism Tech Defense Transportation News Analysis
Lifestyle
Health Environment Travel Food Fashion Science Religion History Feature Expat Corner
Arts
Cinema Music Events Portrait Reviews Performing Arts
Sports
Football Basketball Motorsports Tennis
Opinion
Columns Op-Ed Reader's Corner Editorial
PHOTO GALLERY
JOBS ABOUT US RSS PRIVACY CONTACT US
© Turkuvaz Haberleşme ve Yayıncılık 2023

Daily Sabah logo

عربي
  • Politics
    • Diplomacy
    • Legislation
    • War On Terror
    • EU Affairs
    • Elections
    • News Analysis
  • TÜRKİYE
    • Istanbul
    • Education
    • Investigations
    • Minorities
    • Expat Corner
    • Diaspora
  • World
    • Mid-East
    • Europe
    • Americas
    • Asia Pacific
    • Africa
    • Syrian Crisis
    • Islamophobia
  • Business
    • Automotive
    • Economy
    • Energy
    • Finance
    • Tourism
    • Tech
    • Defense
    • Transportation
    • News Analysis
  • Lifestyle
    • Health
    • Environment
    • Travel
    • Food
    • Fashion
    • Science
    • Religion
    • History
    • Feature
    • Expat Corner
  • Arts
    • Cinema
    • Music
    • Events
    • Portrait
    • Reviews
    • Performing Arts
  • Sports
    • Football
    • Basketball
    • Motorsports
    • Tennis
  • Gallery
  • Opinion
    • Columns
    • Op-Ed
    • Reader's Corner
    • Editorial
  • TV
  • Business
  • Automotive
  • Economy
  • Energy
  • Finance
  • Tourism
  • Tech
  • Defense
  • Transportation
  • News Analysis

British Airways-owner IAG Q1 loss narrows to $1.29B

by Agencies

May 07, 2021 - 11:58 am GMT+3
Aircraft grounded due to the COVID-19 pandemic, including planes operated by British Airways, stand on the apron at London Gatwick Airport near Crawley, southern England, May 1, 2020. (AFP Photo)
Aircraft grounded due to the COVID-19 pandemic, including planes operated by British Airways, stand on the apron at London Gatwick Airport near Crawley, southern England, May 1, 2020. (AFP Photo)
by Agencies May 07, 2021 11:58 am

International Consolidated Airlines Group (IAG), owner of British Airways and other European airlines, reported on Friday a first-quarter loss after tax at 1.07 billion euros ($1.29 billion), narrower than last year's loss of 1.68 billion euros.

As the COVID-19 pandemic continues to restrict travel, the company forecast only a small rise in capacity to 25% for the April-June quarter.

The basic loss per share was 21.5 euro cents, compared to a loss of 55.1 euro cents a year ago.

Adjusted loss after tax was 1.12 billion euros or 22.6 euro cents per share, compared to the prior year's loss of 556 million euros or 18.2 euro cents per share.

Total revenue plunged 78.9% to 968 million euros from last year's 4.59 billion euros.

Passenger revenue was 459 million euros, down 88.4% from 3.95 billion euros a year ago.

Passenger capacity in the quarter was 19.6% of 2019 and continues to be adversely affected by the COVID-19 pandemic, together with government restrictions and quarantine requirements.

The company's current passenger capacity plans for the second quarter are for around 25% of 2019 capacity but remain uncertain and are subject to review.

IAG said it is not providing profit guidance for 2021 due to the uncertainty over the timing of the lifting of government travel restrictions and the continued impact and duration of COVID-19.

  • shortlink copied
  • RELATED TOPICS
    fight-against-terrorism DEUTSCHE-BANK US-LIBYA-RELATIONS
    KEYWORDS
    international consolidated airlines group british airways airline industry covid-19 outbreak travel restrictions
    The Daily Sabah Newsletter
    Keep up to date with what’s happening in Turkey, it’s region and the world.
    You can unsubscribe at any time. By signing up you are agreeing to our Terms of Use and Privacy Policy. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
    A crude oil tanker sails in the Bosporus, on its way to the Mediterranean Sea, in Istanbul, Türkiye, Dec. 11, 2022. (Reuters Photo)

    Türkiye registers better-than-expected current account gap

    current-account-balance
     Eastern Anatolian Fault line triggered another fault segment called the Sürgü fault, Middle East Technical University (METU), Ankara, Feb. 9, 2023. (DHA Photo)

    Accumulated tension of hundreds of years moved Anatolia by 3m

    Harold-Tobin

    Istanbul's spectacular, historical grand bazaars and markets

    Travel

    Istanbul's consulate chronicles: Sudhi Choudhary, Consul General of India

    SUDHI-CHOUDHARY
    Embroidery
    10+ indoor hobbies to get through the (pandemic) winter
    PHOTOGALLERY
    • POLITICS
    • Diplomacy
    • Legislation
    • War On Terror
    • EU Affairs
    • News Analysis
    • TÜRKİYE
    • Istanbul
    • Education
    • Investigations
    • Minorities
    • Diaspora
    • World
    • Mid-East
    • Europe
    • Americas
    • Asia Pacific
    • Africa
    • Syrian Crisis
    • İslamophobia
    • Business
    • Automotive
    • Economy
    • Energy
    • Finance
    • Tourism
    • Tech
    • Defense
    • Transportation
    • News Analysis
    • Lifestyle
    • Health
    • Environment
    • Travel
    • Food
    • Fashion
    • Science
    • Religion
    • History
    • Feature
    • Expat Corner
    • Arts
    • Cinema
    • Music
    • Events
    • Portrait
    • Performing Arts
    • Reviews
    • Sports
    • Football
    • Basketball
    • Motorsports
    • Tennis
    • Opinion
    • Columns
    • Op-Ed
    • Reader's Corner
    • Editorial
    • Photo gallery
    • Jobs
    • privacy
    • about us
    • contact us
    • RSS
    © Turkuvaz Haberleşme ve Yayıncılık 2021