British Airways owner declares 7.4 billion euro loss

British Airways’ owner IAG reported a loss of 7.4 billion Euros in 2020.

According to the statement made by the Spanish International Airlines Group (IAG), owner of British Airways (BA), the group lost 7.4 billion Euros (9 billion dollars) in 2020 due to the negative activity environment created by the new type of coronavirus (Kovid-19) epidemic, In 2021, it was stated that digital health cards may be needed to revitalize the airline sector. In the statement, it was recorded that it has a liquidity of 10.3 billion Euros with new loans.

Commenting on company data, Steve Gunning, Chief Financial Officer (CFO) of IAG, said: “We entered 2021 with very strong liquidity. Therefore, we will not need additional financing. ” He used his expressions.

IAG Senior Manager Luis Galle said that the UK’s removal of restrictions on international travel such as mid-May within the scope of quarantine exit measures is expected to positively affect the sector, and if digital health cards are applied, this will positively affect the market.

IAG has British Airways, Iberia, Aer Lingus, Level, Vueling, IAG Loyalty, IAG Cargo, IAGGBS.


Source: bigpara- GÜNDEM by

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