BA-owner IAG stays cautious on recovery

British Airways-owner IAG said Friday (July 30) that summer capacity would rise to 45% of pre-health crisis levels.

That's a more cautious bet than rivals.

The third quarter capacity plan is up from its previous quarter at least.

But leaves it some way behind Air France-KLM, easyJet and Ryanair.

IAG's CEO has blamed it on the partial closure of the firm's key U.S. market.

For the October-December quarter, IAG is ready to fly up to 75% of its 2019 capacity.

British Airways, usually IAG's most profitable airline, has been hammered by restrictions in its home market.

They have been tighter and lasted longer than those in Europe, allowing the group's Spanish airlines Iberia and Vueling to recover faster.

Britain will lift more restrictions on arrivals from the United States on Monday (August 2).

But the United States continues to be closed to UK and European arrivals.

Shares in IAG traded down as much as 3% in early deals.

For the three months to the end of June, IAG reported an underlying operating loss of $1.24 billion.

The group declined to give a profit forecast.

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