BA owner IAG suffers large loss in 2020

British Airways owner IAG made a post-tax loss in 2020 of 6.9 billion euros (£6 billion) compared with a 1.7 billion euros (£1.48 billion) profit a year earlier.
By Greg Wright
Published 26th Feb 2021, 07:54 BST
Library image of tail fins of British Airways' aircraft parked at Terminal One of Heathrow AirportLibrary image of tail fins of British Airways' aircraft parked at Terminal One of Heathrow Airport
Library image of tail fins of British Airways' aircraft parked at Terminal One of Heathrow Airport

”Revenues collapsed 69% from 25.5 billion euros (£22.2 billion) to just 7.8 billion euros (£6.8 billion) in 2020 as the Covid-19 pandemic hit.

The number of passengers using its airlines remains significantly down on pre-pandemic levels and fell again during the traditional peak festive season.

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The company, which also owns Aer Lingus and Iberia, said capacity for 2020 was just 33.5% of 2019 levels and only 26.6% in the final three months of the year.

In the three months to December, IAG also made an operating loss of 1.47 billion euros (£1.3 billion).

Related topics:IAGCovid-19