British Airways parent company slashes passenger forecast

  • 📰 ABC
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 51%

United States Headlines News

United States Latest News,United States Headlines

The parent company of British Airways cuts its fourth-quarter passenger forecast to just 30% of last year’s level as government restrictions imposed to control a new wave of coronavirus infections reduces demand for flights.

Catch up on the developing stories making headlines.LONDON -- The parent company of British Airways has cut its fourth-quarter passenger forecast to just 30% of last year’s level as government restrictions imposed to control a new wave ofInternational Airlines Group made the announcement Thursday as it posted a third-quarter operating loss of 1.3 billion euros , compared with a profit of 1.4 billion euros in the same period last year.

The company said it reduced the fourth-quarter passenger forecast because of additional restrictions, including “an increase in local lockdowns and extension of quarantine requirements to travelers from an increasing number of countries.’’ The company said that measures meant to mitigate the disruption, such as pre-departure testing and air corridor arrangements, “have not been adopted by governments as quickly as anticipated.''

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Joe Biden has a dismal track record. He is a confirmed criminal that has taken millions from China & Russia. Everything he does turns to shit. MSM, Twitter & Facebook confirm the allegations by censoring it. Over the next few days the shit will hit the fan. Put Biden in jail!

BA's heading for nationalisation - with six planes!

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 471. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Cathay Pacific Slashes Workforce as Travel Forecasts Remain BleakHong Kong’s flagship carrier will cut its workforce by a quarter and close a subsidiary airline as it seeks to stem losses from a coronavirus-induced downturn that is expected to devastate the aviation industry for years.
Source: WSJ - 🏆 98. / 63 Read more »

British Airways Owner IAG To Operate Just 30% Of Flights For The Rest Of 2020I am a breaking news reporter for Forbes in London, covering Europe and the U.S. Previously I was a news reporter for HuffPost UK, the Press Association and a night reporter at the Guardian. I studied Social Anthropology at the London School of Economics, where I was a writer and editor for one of the university’s global affairs magazines, the London Globalist. That led me to Goldsmiths, University of London, where I completed my M.A. in Journalism. Got a story? Get in touch at isabel.togohforbes.com, or follow me on Twitter bissieness. I look forward to hearing from you. Melhor voo!!! Forever!
Source: Forbes - 🏆 394. / 53 Read more »

British Airways warns of deepening travel slump as losses mountBritish Airways owner IAG warned the travel slump from the coronavirus pandemic had deepened, forcing it to axe even more of its winter flying schedule after it reported on Thursday a quarterly loss of 1.3 billion euros ($1.54 billion).
Source: Reuters - 🏆 2. / 97 Read more »

AT&T CEO Expects 'Choppy' Theatrical Recovery, Says 'Tenet' Was No 'Home Run'AT&T's CEO said the outlook for the theatrical business remains uncertain, with the recovery likely to be 'choppy.' He also said the release of 'Tenet' was no 'home run.'
Source: THR - 🏆 411. / 53 Read more »

WarnerMedia Takes $960M Pandemic Earnings Hit, AT&T Loses 627,000 Video SubsWarnerMedia operating income fell 38 percent in the third quarter, led by a 91.6 percent drop at HBO due to HBO Max investment. It also saw a $960 million hit from the coronavirus pandemic to earnings before interest, taxes, depreciation and amortization. Not good GREEN LIGHT MAN OF STEEL SEQUEL WITH HENRY CAVILL AND BEN AFFLECK SOLO BATMAN FILM DCCOMICS HBOMAX HBOMax Turns out “we have friends!” Isn’t as catchy as a slogan as they thought it was
Source: THR - 🏆 411. / 53 Read more »

Snap roars 30% higher to record $50 billion valuation, brings Twitter and Facebook along for the rideSnap shares jumped more than 30% Wednesday and hit all-time highs that pushed the Snapchat parent company’s valuation to over $50 billion for the first time. Snap was boosted by an earnings report that demolished expectations for online-advertising sales.
Source: MarketWatch - 🏆 3. / 97 Read more »