The owner of British Airways, International Airlines Group, reported a €1.2bn pre-tax loss for the primary quarter and reiterated the necessity for the rollout of digital vaccine passports to allow the beleaguered aviation business to get passengers again within the skies.

IAG mentioned passenger capability slumped to lower than a fifth of pre-pandemic ranges within the first three months of 2021, and it expects solely a slight enchancment within the second quarter to 25% of 2019 ranges.

The airline group, which made a €1.8bn (£1.6bn) pre-tax loss within the first quarter final 12 months, mentioned its forecast on passenger numbers stays “uncertain and subject to review”.

Luis Gallego, the chief government of IAG, mentioned: “We’re doing everything in our power to emerge in a stronger competitive position. We’re absolutely confident that a safe restart to travel can happen as shown by the scientific data. We’re ready to fly but government action is needed.”

Gallego referred to as for 4 measures together with restriction-free journey corridors between international locations, “affordable, simple and proportionate” testing to exchange quarantine, “contactless” transit by airports and digital well being passes and vaccine documentation.

“These measures will enable a safe reopening of our skies,” he mentioned.

IAG minimize its weekly prices to €175m per week within the first quarter and passenger revenues plunged by 88% within the first quarter to €459m. In the identical interval final 12 months, passenger revenues have been €3.9bn.

The firm mentioned its cargo operation enabled it to function a “more extensive passenger long-haul network”. IAG operated 1,306 cargo-only flights within the first three months, which generated €350m in income, a 42% year-on-year enhance and a document for the primary quarter. In the ultimate three months of final 12 months, IAG operated 969 cargo-only flights.

“Given the uncertainty over the timing of the lifting of government travel restrictions and the continued impact and duration of Covid-19, IAG is not providing profit guidance for 2021,” the corporate mentioned.

Source link