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British Airways owner IAG expects return to profit in 2022 -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: British Airways’ aircraft departs Heathrow Airport (west London), Britain, 02/23/2018. REUTERS/Hannah McKay

LONDON (Reuters), British Airways Owner IAG (LON 🙂 claimed that its passenger capacity would grow to 85% from pre-pandemic levels. This is in addition to a return to profitability for 2022, after a 36% decline in 2020 capacity. The net loss was 2.97 billion Euros.

It warned it in November about a possible loss of 3 billion euro by 2021. This was due to pandemic restrictions that lasted most of the year. However, this is a significant improvement from 2020’s 4.39 trillion euro loss.

IAG indicated that they expect to experience a large quarterly operating loss, however it will report profitability in the second quarter.

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