29 April 2020
IAG has said that it will take ‘several years’ to return to 2019 passenger levels following the COVID-19 pandemic.
Releasing first quarter results, IAG said that it incurred a €1.3bn exceptional charge in the period due to the “ineffectiveness” of its fuel and foreign currency hedges for the remainder of 2020.
IAG, which is headed by Chief Executive Willie Walsh, owns British Airways, Are Lingus, Iberia, Vueling and Level.
The company said that passenger capacity on its airlines from June will depend on the timing of the easing of lockdowns and travel restrictions by governments around the world.
