Sharjah 24 - AFP: British Airways owner IAG said Friday that third-quarter losses shrank sharply on the lifting of Covid travel curbs, and expressed hope of a return to profit next year.
The loss after taxation hit 574 million euros ($664 million) in the three months to September compared with 1.8 billion euros a year earlier, IAG said in a statement, while revenues more than doubled on strong long-haul demand.
The group's star performer, Spanish carrier Iberia, meanwhile bounced back into profitability.
The European travel conglomerate, whose portfolio also includes Aer Lingus, Level and Vueling, added that it flew 43.4 percent of its pre-pandemic 2019 capacity.
IAG expects this figure to reach 60 percent in the fourth quarter.
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