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.
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