Airline giant IAG logs €3.8 billion loss on virus

British Airways aircraft are parked at Heathrow Airport, in Britain, on May 2, 2020.

AIRLINE conglomerate IAG, the owner of British Airways, today posted a first-half net loss of €3.8 billion (RM19 billion) due to the “devastating” impact of coronavirus.

The group, which had posted a year-earlier net profit of €806 million, also unveiled plans for a capital increase of up to €2.75 billion in a results statement, as it seeks to navigate fallout from the deadly Covid-19 crisis.

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