IAG owner of Aer Lingus has warned the travel slump from the coronavirus pandemic had deepened.
This has forced it to axe even more of its winter flying schedule as it reported a quarterly loss of €1.3 billion.
The loss was far larger than the €920m forecast by analysts, as passenger numbers plunged and it struggled to even half-fill its planes.
This illustrated the scale of the challenge faced by IAG’s new boss, Luis Gallego, who took over from Willie Walsh in September.
As a second wave of Covid-19 infections spreads across Europe, airlines are facing a bleak winter and IAG joins Lufthansa, Ryanair and EasyJet in cutting back already anaemic schedules.
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Source: RTE – https://www.rte.ie/news/business/2020/1022/1173120-iag-quarterly-results/