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LONDON, May 7 (Reuters) - British Airways-owner IAG
forecast only a minimal pick-up in capacity to 25% for the April
to June quarter, remaining cautious despite hopes that European
travel will start to recover from late May onwards.
The rise to 25% of 2019's capacity compared to the 19.6% of
capacity that it flew in the January to March quarter as the
pandemic continued to restrict travel.
That resulted in the group posting an operating loss before
exceptional items of 1.14 billion euros for its first quarter
period to the end of March, slightly better than the 1.17
billion euro loss forecast by analysts.
IAG, which also owns Iberia and Vueling in Spain and Aer
Lingus in Ireland, said it reduced weekly cash burn to 175
million euros, a better performance than the 185 million euros a
week it had previously guided for the period.
The group also said it had strong liquidity of 10.5 billion
euros at the end of the first quarter.
(Reporting by Sarah Young, Editing by Paul Sandle)
International Airlines (IAG)
