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BA-owner IAG cautious on recovery, sees summer capacity rising to 45%
LONDON (Reuters) – IAG said summer capacity would rise to 45% of pre-pandemic levels from 22% in the previous quarter, in the latest sign that a travel recovery is underway, although the British Airways-owner said significant uncertainty remained.
IAG said on Friday that it was focused on ensuring it could quickly react to changes in restrictions and take advantage of demand where it arose, but declined to give a profit forecast for the year due to COVID-19.
Britain will lift more restrictions on arrivals from abroad on Monday, allowing IAG’s usually most profitable airline BA to catch up with Spanish units Iberia and Vueling which have already benefitted from an earlier loosening of travel rules in Europe.
Air France-KLM narrows losses as bookings begin recovery
FILE PHOTO: Passengers wait at the Air France desk at Nice international airport, France, February 20, 2020. REUTERS/Eric Gaillard
July 30, 2021
By Tim Hepher and Anthony Deutsch
PARIS/AMSTERDAM (Reuters) -An easing of coronavirus travel restrictions is generating the first signs of recovery at Air France-KLM, the airline group said on Friday, as its unveiled a smaller loss for the second quarter coupled with positive cash from operations.
While passengers are returning to the air, uncertainty over COVID-19 rules continues to be a problem. KLM said with a majority of Europeans now fully vaccinated, countries should move quickly to harmonize regulations enabling more air travel.
London's FTSE 100 ended lower on Friday, weighed down by miners over concerns that rising coronavirus infections globally could derail economic growth, while British Airways-owner IAG dropped after saying it was cautious on recovery prospects.
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