IAG (Iberia, British Airways, Vueling, Aer Lingus) reported losses of 7,4 billion euros for the entire year 2020.
The International Consolidated Airlines Group (IAG for short) presented on February 26, 2021 the consolidated results for the entire year 2020.
The COVID-19 pandemic hit hard at IAG member airlines and here we mention Iberia, British Airways, Vueling, Aer Lingus and all their subsidiaries.
Throughout 2020, the transport capacity of IAG companies was 33.5% of the total for 2019. The beginning of 2021 is not very good either, the operations being at 20% of the same period of 2019.
Unfortunately, at the end of 2020 a line was drawn and the IAG (Iberia, British Airways, Vueling, Aer Lingus) reported losses of 7,4 billion euros for the entire year 2020, given that in 2019 an operating profit of 3.3 billion EURO.
The result reflects the serious impact that the COVID-19 pandemic has had on IAG airlines. Exceptional and effective measures have been taken to conserve cash, increase liquidity and reduce costs.
On the cargo side, the situation was a little better. 969 cargo flights were operated in Q4 alone, and over 2020 cargo flights were operated throughout 4000. IAG Cargo's turnover increased by almost 200 million EURO compared to 2019, reaching 1.3 billion EURO.