IAG, the parent company of Iberia and Vueling, lost 6,923 million in 2020, compared to earnings of 1,715 million in 2019

The air group International Consolidated Airlines Group (IAG) -to which Iberia, Vueling and British Airways belong, among others- recorded losses of 6,923 million euros in 2020 compared to gains of 1,715 million the previous year, as a result of the restrictions to air traffic imposed around the world to contain covid-19.

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The British-Spanish company has informed the National Securities Market Commission (CNMV) that it closed last year with a drop in revenue of 69.4%, to 7,806 million euros.

In 2020 the group transported 33.5% of the passage compared to 2019, and for the first quarter of 2021 it places the capacity at around 20% of that of 2019, although the data “remains uncertain and subject to review,” he says. it’s a statement.

The company has recognized an exceptional pre-tax charge in 2020 of € 3,061 million related to the suspension of fuel and currency hedge accounting, fleet impairment and restructuring expenses.

Current passenger carrying capacity plans for the first quarter of this year are around 20% of 2019 capacity, but remain uncertain and subject to review.

“The aviation industry supports the willingness of governments to put public health as a top priority. A clear roadmap will be needed regarding the lifting of current restrictions so that people can fly again when the time is right,” he said. the CEO of IAG, Luis Gallego, was appointed.

“We know that there is a contained demand for travel and that people want to fly. Vaccinations are progressing well and global infections are going in the right direction. We call for common international standards in terms of testing and the implementation of digital health cards to reopen our skies. for sure “, he added.


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