British Airways’ owner, IAG, is pinning its hopes on the revival of transatlantic travel next week as it warned that pandemic disruption would drive a loss of €3bn for 2021.
IAG’s chief executive, Luis Gallego, said the reopening of the US border to foreign nationals from Monday was a “pivotal moment for our industry”.
The group, whose airlines also include Iberia and Aer Lingus, reported a €485m (£416m) loss for its third quarter, the key summer period between July and September. It was lower than expected and lower than the €1.3bn loss in the same period last year. An annual loss of €3bn would be lower than the €4.3bn loss reported in 2020.