International Airlines Group recovers but is still in the red

IAG who owns Iberia, Aer Lingus, British Airways and Vueling is hoping for 85% of pre-pandemic traffic in 2022 with about two-thirds traffic for the first quarter

International Airlines Group has reported that it has borne a statutory operating loss of 3.1 million dollars. While the carriers still keep accruing losses in 2021, it is still a great improvement on the nearly 8.5 million USD loss in 2029. 

Passenger capacity is only at 58 per cent of the 2019 levels during the final quarter compared to 43 per cent in the third quarter with the average for the total year being only 36% of pre-pandemic levels. 

The group which owns Iberia, Aer Lingus, British Airways and Vueling is hoping to fly about two-thirds of the pre-pandemic levels with the projection of 85% over the full year of 2022. This is based upon the recent surges in passenger traffic with the last months of 2021 having 80% of its equivalent counterpart in the pre-pandemic era. 

While this has been blunted by the emergence of Omicron, the air carrier group remains optimistic with booking remaining strong for the upcoming Easter and summer 2022 having picked up in the New Year