Airline giant IAG nosedives to 6.9-bn-euro annual loss

IAG said its performance reflected "the serious impact that Covid-19 has had on our business"

Representative image. Credit: Reuters.

IAG, the owner of British Airways and Spanish carrier Iberia, said Friday it suffered a 2020 net loss of 6.9 billion euros ($8.4 billion) on the fallout from the coronavirus pandemic.

The huge loss after tax compared with a net profit of 1.7 billion euros in 2019, IAG said, adding that its performance reflected "the serious impact that Covid-19 has had on our business".

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