Aircraft
IAG Cuts Deliveries As Full Recovery Not Anticipated Before 2023
IAG incurred a loss of around $577 million in the first quarter of 2020, and sees even tougher trading conditions in the second and third quarters.
IAG group airlines, including British Airways, now plan on taking delivery of 68 fewer new aircraft than planned through the end of 2022. (Photo: British Airways)
IAG group airlines, including British Airways, now plan on taking delivery of 68 fewer new aircraft than planned through the end of 2022. (Photo: British Airways)

International Airlines Group is bracing for three tough years and doesn't anticipate a return to 2019 trading conditions until 2023. Reporting an operating loss of €535 ($577 million) for the first quarter of 2020 on Thursday, group CEO Willie Walsh announced plans to defer deliveries of 68 new aircraft and to return more than 100 more to leasing groups in a bid to rebalance overall fleet capacity in the face of radically reduced demand.