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  • the outlook gets ever cloudier for British Airways owner I A G.

  • On Thursday, the airline group said its third quarter loss hit 1.3 billion euros, all over $1.5 billion.

  • That was far worse than analyst forecasts and comes as passenger numbers plunged.

  • The company says it struggled to even half fill.

  • The few planes that are flying on the coming months don't look much better for the group, which also owns Iberia, Aer Lingus and other carriers.

  • Over the fourth quarter, I A G now says it will fly just 30% off its capacity, down from earlier guidance, off 40%.

  • As a result, it no longer expects to break even over the period, though it said it had plenty off liquidity on hand after raising over $3 billion from shareholders with a rights issue.

  • One glimmer of hope for the airline was this week's introduction off rapid virus testing at its main hub, London's Heathrow Airport.

  • Passengers to some destinations can now get a quick check before they fly.

  • B A and other airlines hope such measures could restore confidence in air travel.

  • But right now that seems a distant hope I A G shares dropped more than 3% Thursday before recovering some ground.

  • So far this year, the stock has lost almost 80% off its value.

the outlook gets ever cloudier for British Airways owner I A G.

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B1 airline thursday quarter liquidity heathrow fly

British Airways losses mount

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    林宜悉 posted on 2020/10/25
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