British Airways is losing $ 9 billion and optimistic … an interesting contradiction

IAG Group, the owner of British Airways, announced last year losses of 7.43 billion pounds ($ 9 billion).

IAG International Aviation Group said there are reasons to be optimistic about the aviation market this coming summer, after recording its first annual loss in nearly a decade.

While Luis Gallego, Group CEO, expressed growing confidence in the rapid recovery, he said he could not provide estimates on the results of this fiscal year as the travel industry continues to be affected by the emerging coronavirus pandemic.  British Airways backtracks on the “pilots massacre” … the reason is a “pragmatic agreement.”

International airlines specializing in long-haul flights suffered their worst decline over the past year, at a time when the International Air Transport Association (IATA) expects the international aviation market to need years to recover.

IATA estimated international aviation losses at about $ 118 billion in 2020, and sector losses are expected to reach $ 38 billion in 2021.

The Airports Council International, which includes the managers of 1933 agencies in 183 countries, said their revenue losses for 2020 were $ 111.8 billion.

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And the Bloomberg News Agency indicated that international airlines such as IAG, which is based in London, have so-called “Corona passports” that can be granted to identify those who have been vaccinated against Corona in order to resume travel and aviation traffic.

Gallego said: “We see a significant increase in flights and ticketing during the summer, following the British government’s announcement that the development of vaccination and the establishment of international standards and zero digital health passports will be essential.”