British Airways owner IAG says recovery will not be before 2023
British Airways’ owner IAG has said it will take until at least 2023 for passenger levels to recover from the impact of the coronavirus pandemic.
IAG, which also owns Aer Lingus, posted a loss of €4.2bn (£3.8bn) in the first half of the year as demand for air travel collapsed amid the pandemic.
Passenger numbers were down 98%, and the group plans to cut 12,000 jobs.
IAG said it planned to raise €2.75bn, and had support for this from its main shareholder, Qatar Airways.