British Airways owner IAG is banking on the reopening of transatlantic travel to revive its business after warning it will lose another €3bn this year.
The group, which owns airlines including Iberia, Aer Lingus and Vueling, flew just over 40 per cent of its normal schedule in the third quarter. It said thanks to the “significant” industry-wide recovery under way it will increase this to 60 per cent in the final three months of the year.
IAG reported a €485m operating loss before exceptional items for the third quarter, compared with the €1.3bn lost the previous year. The airline forecasts a loss of approximately €3bn for the full year, compared with the €4.3bn it lost last year.
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