The airline conglomerate IAG, which owns British Airways, among other things, reports a turnover of 2.7 billion euros for the third quarter of 2021, according to the interim report.

Analysts had previously expected sales of 2.8 billion euros, according to estimates from S&P Global Market Intelligence.

The operating loss was EUR 452 million, compared to expectations of a loss of EUR 526 million. An adjusted EBIT loss of EUR 3 billion is forecast for the full year. 

The company also predicts that the operation will be able to become profitable again in 2022. However, passenger demand is not expected to have returned to pre-pandemic levels before 2023.

For the fourth quarter, passenger capacity is forecast to be around 60 percent of 2019 levels. In the third quarter, capacity was 43 percent compared to 2019. For 2021 as a whole, capacity thus looks set to land at 37 percent of 2019 levels.

Source: Nyhetsbyrån Direkt