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The airline group IAG, which owns British Airways, among other things, reports increasing revenue and reduced losses in the second quarter. Furthermore, capacity in terms of the number of passengers is expected to increase sequentially in the coming quarter.

Sales rose 77 percent to EUR 1,244 million (703).

The operating profit was EUR -967 million (-2,182). 

Adjusted operating profit amounted to EUR -1,045 million (-1,370). 

The profit before tax was EUR -1,120 million (-2,326). 

The result after tax was EUR -981 million (-2,125).

Flight capacity in terms of passengers during the second quarter was 21.9 percent of the level seen during the same period in 2019, as operations and passenger numbers continue to be heavily impacted by the coronavirus pandemic.

During the third quarter, capacity is expected to be approximately 45 percent of what it was during the same period in 2019. 

Due to the uncertainties associated with the pandemic, IAG is not providing a full-year financial forecast.

Source:Finwire