TOPLINEBritish Airways parent company IAG recorded a $1.8 billion (£1.5 billion) loss in the first three months of the year, as widespread travel restrictions caused by coronavirus prompted the group to slash 94% of its flights. The Anglo-Spanish airline group, which is Europe’s third largest, said it does not expect passenger numbers to start returning until July at the earliest. As well as British airways, the airline group owns Iberia, Vueling and Aer Lingus. Crucial commentWalsh said: “March’s performance was severely affected by government travel restrictions due to the rapid spread of Covid-19 which significantly impacted demand. Big numberThe International Air Transport Association estimates that globally, airlines will lose $314 billion in passenger revenues this year.

Source: Forbes May 07, 2020 11:26 UTC