IAG’s reported losses of over £5 billion and is urging the government for reliable and affordable testing. IAG reported an increase of its flying programme that is accounted for by summer demand.
IAG commented: “In response to the high uncertainty of the current environment IAG now plans for capacity in quarter 4 to be no more than 30 per cent compared to 2019.
“As a result, the Group no longer expects to reach breakeven in terms of Net cash flows from operating activities during quarter four.”
CEO Luis Gallego said: “We are calling on governments to adopt pre-departure testing using reliable and affordable tests with the option of post flight testing to release people from quarantine where they are arriving from countries with high infection rates.
“This would open routes, stimulate economies and get people travelling with confidence. When we open routes, there is pentup demand for travel.
“However, we continue to expect that it will take until at least 2023 for passenger demand to recover to 2019 levels.”