British Airways owner record biggest loss in its history! Loses €7.4 billion due to Covid pandemic
NoireTv Africa If you live in the USA, NoireTV now showing nationwide on Verizon Fios on channel 269. Press 269 on your remote control. NoireTV now on Verizon Fios Channel 269. Press 269 on your remot e control. Follow us on Instagram @ no i r etv afri ca and on Fa c ebook ... www.facebook.com/caspennoire The owner of British Airways, International Airlines Group, has announced the biggest annual loss in its history as the Covid pandemic closed borders and grounded its aircraft. The airline group, which also owns Iberia, Vueling, and Aer Lingus, announced on Friday, February 26, a post-tax loss of €7.4bn loss in 2020, the worst since the company's formation 10 years ago. “Our results reflect the serious impact that Covid-19 has had on our business,” said Luis Gallego, the chief executive of IAG. “The group continues to reduce its cost base and increase the proportion of variable costs to better match market demand. We’re transforming our business to ensure we e