before exceptional items of 754 million euros, Chief Executive Luis Gallego said a strong recovery, particularly in business and premium leisure travel, would put the company in the black for the year. Still, dark clouds overshadow his optimism. An 8% fall in IAG shares on Friday morning means the stock is 70% below its pre-Covid-19 levels.
Gallego reckons the 7 billion pound group will have restored 90% of its pre-pandemic schedule by September. Average seat prices are also climbing – revenue for every passenger kilometre flown rose 12% compared to a year ago, thanks to well-heeled flyers. But in addition to high jet fuel prices, IAG now has to contend with a sharp slowdown in the UK economy. Business travel budgets are likely to be on shaky ground.
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:
United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Industry & Innovation Quiz | The Great Chicago Quiz Show | WTTWWhat was the source of Annie Turnbo Malone’s fortune? Why did the Twinkie change its recipe? Take our Industry & Innovation Quiz! quizWTTW
Source: wttw - 🏆 520. / 51 Read more »
Over 260 travel and business groups urge White House to end COVID testing for U.S. entryOver 260 travel industry and business organizations are calling on the Biden administration to end its COVID testing requirement for vaccinated passengers entering the U.S. Nah, vaccination requirement or don’t bother entering The travel industry really doesn’t like us in America. Trying to kill us left and right. ekstromfortexas How about for everyone!
Source: axios - 🏆 302. / 63 Read more »
San Diego Mayor, hospitality, and business leaders push to reignite travel and tourism -SAN DIEGO (KUSI) – Mayor Todd Gloria and several local hospitality and business industry organizations have joined together to highlight the importance of reigniting travel and tourism. This week is National Travel & Tourism Week and the American Hotel & Lodging Association, the San Diego Tourism Authority, and San Diego Regional Chamber of Commerce and San Diego County Lodging Association...
Source: KUSINews - 🏆 241. / 63 Read more »