IAG is more reliant on usually lucrative North America flights than most European carriers, and the company said it expects to post a 3 billion-euro (US$3.5 billion / $4.69 billion) loss for the full year. Capacity should recover to around three-fifths of the pre-coronavirus level during the current three months.
British Airways parent IAG SA said cash flows turned positive in third quarter and that North Atlantic bookings have begun to surge as the U.S. prepares to reopen its border to vaccinated Europeans next week.
Long-haul bookings are now recovering faster than short-haul sales, with the premium leisure segment performing particularly strongly at BA and Spanish arm Iberia, IAG said in a statement Friday. There are some early signs of a recovery in business travel.
