IAG reports €2.6bn losses for 2021

Airline group that owns Aer Lingus secured additional €4.4 billion of non-aircraft debt in 2021, but cast doubt over its ability to secure any further funding in the event of ‘a more severe downward scenario’ in the future

Decreased passenger revenues were largely influenced by pandemic-related passenger restrictions around the world that began to lift during 2021, IAG said. Picture: Getty

International Airlines Group (IAG), the airline group that owns Aer Lingus, British Airways and Iberia, reported losses after tax of €2.622 billion for the nine months up to September 30, 2021, a 58.4 per cent year-on-year tightening when compared to the €5.975 billion losses for the same period in 2020.

Total revenue for the period was €4.9 billion, 24 per cent lower than the €6.5 billion revenue recorded during the first nine months of 2020. ...