International Airlines Group (IAG), the parent company of British Airways, has announced a first-quarter (Q1) loss for 2020 of €535 million ($579 million). This compares with an operating profit of €135 million ($146 million) for the same period last year. Unsurprisingly the novel coronavirus (COVID-19) impacted the consortium’s operations for the period resulting in a 10.5% reduction in capacity from Q1 2019. Significant losses on fuel hedging derivatives and foreign exchange transactions were also cited as contributing factors to the…
International Airlines Group (IAG) announced Thursday that chief executive officer Willie Walsh will step down from his current role and the board of IAG on March 26 and will formally retire on June 30. The chairman of IAG Antonio Vázquez praised Walsh’s achievements at the multi-national airline holding company which…
