The International Airlines Group (AIG) has reported an operating loss for the third quarter 2021 of €452 million (2020 restated: operating loss of -€1,923 million) and operating loss before exceptional items of -€485 million (2020 restated: operating loss before exceptional items of -€1,305 million).
For the nine months the Group reported an operating loss of -€2,487 million (2020 restated: operating loss of -€5,975 million) and operating loss before exceptional items of -€2,665 million (2020 restated: operating loss before exceptional items of -€3,220 million). IAG reported exceptional credit before tax in the nine months of €178 million on discontinuance of fuel and foreign exchange hedge accounting and the reversal of the impairment of certain fleet assets (2020: exceptional charge before tax of €2,755 million on discontinuance of fuel and foreign exchange hedge accounting and impairment of fleet assets). Loss after tax and exceptional items for the nine months was -€2,622 million (2020 restated: loss of -€5,576 million) and loss after tax before exceptional items of -€2,775 million (2020 restated: loss of -€3,185 million).
At current fuel prices and exchange rates, IAG expects its 2021 operating loss before exceptional items to be approximately -€3.0 billion. Fourth-quarter capacity, measured in ASKs, is expected to be approximately 60% of 2019, resulting in 2021 capacity of 37% of the 2019 pre-pandemic level.
