[ad_1]
International Airlines Group (IAG), the owner of British Airways, has cut its flight hours for the rest of the year, as it reported a loss of € 1.3 billion during the third quarter.
In an unscheduled business update, the group said it was cutting flights between October and December to just 30% of normal levels, blaming the reintroduction of travel restrictions by many European governments.
Boris johnson
“We are not only controlling the pandemic, with very, very low deaths and hospital admissions, but we will continue to address it, with local closures and our superlative test and trace system.
Boris johnson
“NHS Test and Trace is doing a heroic job, and today most people get a test result in person within 24 hours, and the average trip is less than 10 miles if someone has to make a trip to get one … [To Keir Starmer] We make the tough decisions, all he does is sit on the sidelines and tent. “
Boris johnson
[On the ‘moonshot’ proposal for mass, near-instant testing:] “We are hopeful that this approach will go mainstream by spring, and if all goes well, even challenging sectors like theaters may have a much closer to normal life before Christmas.”Boris johnson
“We don’t have enough testing capacity now because, in an ideal world, I would like to test absolutely everyone who wants a test right away … Yes, there is a long way to go, and we will work day and night to make sure we go. there.”
Matt hancock
“Of course there is a challenge in testing … We have sent testing out to all schools to make sure they have testing available. But of course I also recognize the challenges of getting evidence … Evidence is available, although it is challenging to get. “
The loss was significantly worse than analysts’ forecast of € 920 million and compares with a profit of € 1.4 billion in the same period last year. Third quarter revenue slumped 83% and the group, which also owns Iberia, Vueling and Aer Lingus, warned that capacity cuts meant it would no longer break even in terms of net cash flows during the fourth trimester.
In July, IAG raised £ 2.5 billion to strengthen its balance sheet after reporting a record loss of £ 3.8 billion during the first half due to the collapse in passenger numbers. Liquidity remained strong, it said Thursday.
The results were the first to be published under the direction of the new CEO, Luis Gallego, who replaced Willie Walsh in early September.
The group previously announced a reduction in flight capacity in September, but said reserves had since stabilized due to measures implemented by European governments in response to a second wave of Covid-19 cases.
IAG called the current environment “highly uncertain” and said passengers were not booking flights as expected due to government restrictions, including local lockdowns and the extension of quarantine requirements for travelers from an ever-growing list of countries.
The group has cut thousands of jobs on its airlines, including Iberia and BA, where it was seeking to lay off 12,000 employees when the pandemic took hold in the spring.
IAG complained that governments had not quickly taken initiatives to reassure people to book or travel on flights, such as coronavirus testing before departure or arrangements for “air corridors” between countries, which allow passengers to travel without need to quarantine.
British airport owners and airlines, including BA, have been asking the government for several months to allow the urgent introduction of coronavirus tests on passengers arriving at UK airports, warning that not allowing this weighs on the airline industry. aviation and creates thousands of jobs at risk.
The first coronavirus testing facility prior to the UK departure opened at Heathrow, but the £ 80 test is only available to passengers flying from London to Hong Kong on airlines such as BA, Virgin Atlantic and Cathay Pacific.
The tests must be booked in advance and the results will be available within an hour, a move that is seen as a significant advance in demonstrating the possibility of authorizing the travel of healthy passengers and potentially ending quarantine rules.
