LONDON, July 31 (Reuters) - IAG, owner of British Airways,
said it planned to raise 2.75 billion euros in a capital
increase backed by its biggest shareholder Qatar Airways, to
strengthen its finances after the pandemic wiped out the travel
market.
The airline group, which also owns Iberia and Aer Lingus,
reported an operating loss of 1.365 billion euros for the second
quarter, broadly in line with a consensus forecast for a loss of
1.395 billion euros.
With international travel threatened by a new wave of the
pandemic before a recovery from the three-month grounding of
planes has got properly underway, the outlook for airlines is
bleak.
(Reporting by Sarah Young; editing by Kate Holton)