LONDON: Cash-strapped International Airlines Group (IAG), which operates British Airways, has been forced to cut its flight schedule for the rest of the year as the coronavirus lockdowns continue to restrict travel. In a surprise preliminary report published, the group revealed that coronavirus-related quarterly damage reached \u20ac1.3 billion ($1.5 billion), as the outbreak continues to ravage countries, forcing governments to tighten restrictions. The loss almost equals IAG\u2019s profit of \u20ac1.4 billion in the same period last year and turned out to be far worse than market expectations. In response to \u201cthe high uncertainty of the current environment,\u201d the group, which also owns Iberia, Vueling and Aer Lingus, said that in the fourth quarter it will conduct no more than 30 percent of the flights it had before the crisis. This is despite the usually busy Christmas season ahead. TLTP<\/p>\n","protected":false},"excerpt":{"rendered":"
LONDON: Cash-strapped International Airlines Group (IAG), which operates British Airways, has been forced to cut its flight schedule for the rest of the year as the coronavirus lockdowns continue to restrict travel. In a surprise preliminary report published, the group revealed that coronavirus-related quarterly damage reached \u20ac1.3 billion ($1.5 billion), as the outbreak continues to […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-152128","post","type-post","status-publish","format-standard","category-business"],"yoast_head":"\n