IAG to further cut flying schedule after Q3 earnings

Thursday, 22. October 2020 09:51

International Consolidated Airlines Group S.A. (IAG), the owner of British Airways, revealed on Thursday that, in the fourth quarter of fiscal 2020, it will operate 30% of the flights it did during the same period a year ago, as opposed to the previous forecast which saw the firm's flight capacity in the year's final quarter at 40%.

The company unveiled earlier in the day that its revenue in the third quarter plunged by 83% compared to the same three-month period of 2019, landing at €1.2 billion.

The firm announced that more details about the flying schedule and further consolidation measures will be available by the end of October.

Related Links: International Consolidated Airlines Group SA
Author:
Breaking the News / BU