International Consolidated Airlines Group more than doubled
its capacity recovery in the third quarter, though it remained below half of
pre-pandemic levels.
Total capacity for the quarter was 43.4 percent of the third
quarter of 2019, an improvement from the previous quarter, when capacity was
down 21.9 percent compared with 2019. Passenger revenue for the quarter was €2
billion, up from €715 million in the third quarter of 2020.
IAG CEO Luis Gallego said next week's reopening of the U.S.
to European visitors is a "pivotal moment," and that the group is
seeing "a significant recovery underway." He noted that long-haul
bookings have been recovering better than short-haul bookings and that both
British Airways and Iberia are seeing "early signs of a recovery in
business travel."
For the fourth quarter, when Gallego said British Airways
will be serving more U.S. destinations of any transatlantic carrier, the group
plans to recover capacity to about 60 percent of 2019 levels.
IAG reported a net loss of €574 million for the quarter,
compared with a loss of €1.76 billion in the third quarter of 2020.
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