The group, which owns British Airawys, said it would fly only one in four of its aircaft during the springThe British Airways group IAG will fly no more than a quarter of its services through the spring as it reported a further €1 billion of losses in the first three months of the year. The debts it is piling up have now spiralled to €11.5 billion, eleven times more than the company’s current quarterly revenues. SponsoredWith another period of deep losses following its €7.4 billion crash into the red in 2020, IAG appealed to the British government to get its act together, saying “we’re ready to fly” with ministerial inaction the only thing stopping it operating fuller schedules. IAG, the International Consolidated Airlines Group formed ten years ago by the merger of BA with Iberia and Vueling of Spain, to which it has since

Source: The Times May 07, 2021 08:03 UTC