International Airlines Group reports heavy losses
International Airlines Group...
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International Airlines Group reports heavy losses

6 May 2022
1 min.
International Airlines Group reports heavy losses

Losses due to pandemic

International Airlines Group (LON: IAG) recorded a big loss in the first three months of the year as the COVID Omicron option reduced passenger numbers.

The pre-tax loss for International Airlines Group (IAG) reached £916 million, although this is an improvement on the £1.2 billion loss in the same period a year ago.

Also, the company said there was an improvement in business travel over the period and overall seat occupancy was better than a year ago at the height of global restrictions.

International Airlines Group (LON: IAG) chief executive Luis Gallego Martin said the company's losses for the first three months of the year reflected "normal seasonality, Omicron impact and costs associated with ramping up production".

Luis Gallego Martin said demand was "recovering strongly" and the company expects to return to profitability between April and June and in 2022 as a whole.

International Airlines Group was founded in 2011 and is headquartered in London.

Also worth noting is the management committee of the company:

Luis Gallego - CEO;
Nicholas Cadbury - CFO;
Fernando Candela-CTO;
Adam Daniels - Chairman and CEO of IAG Loyalty;
Sean Doyle - CEO of British Airways;
Lynne Embleton - Chairman and CEO of Aer Lingus;
John Gibbs - CIO;
Chris Haynes - General Counsel;
Carolina Martinoli - Chief People, Corporate Affairs and Sustainability Officer;
David Podolsky - CSO and Chief Executive Officer IAG Cargo;
Javier Sanchez - Prieto-Chairman and CEO of Iberia;
Marco Sansavini - Chairman and CEO of Vueling.

Persons12 and Companies4 in the news

Chairman and CEO of Vueling
1 place
Chairman and CEO of Iberia
2 place
Chief Strategy Officer and Chief Executive at IAG Cargo
3 place
Chief People, Corporate Affairs and Sustainability Officer at International Airlines Group (IAG)
4 place
General Counsel at International Airlines Group (IAG)
5 place
Chief Information Officer at International Airlines Group (IAG)
6 place
Chairman and CEO at Aer Lingus
7 place
Chairman and CEO of IAG Loyalty
8 place
Chief Transformation Officer at International Airlines Group (IAG)
9 place
Chief Financial Officer at International Airlines Group (IAG)
10 place
Chief Executive Officer of
11 place
CEO of British Airways
12 place
IAG Loyalty
1 place
IAG Cargo
2 place
British Airways
4 place
Source foto:
Rating companies


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