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IAG closes flat after UK lockdown and Ryanair losses

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IAG has ended the session on the stock market with its shares flat after falling by 6%, after the confinement of United Kingdom and the losses of Ryanair. And it is that the unstoppable advance of the coronavirus has forced Boris johnson to decree a new confinement until December 2.

British Government Number Two, Michael Gove, has recognized this Sunday that the new restrictions that will come into force in the coming days could last beyond the initially estimated month.

Gove added that the current situation, in which the United Kingdom has exceeded the million cases, "it's worse than any of us would have expected", and that the absence of decisions like the one announced on Saturday by Prime Minister Boris Johnson, would have caused that"the hospitals were full by December".

For its part, Ryanair has lost 197 million euros in its first fiscal semester, which runs from April to September, after registering a 80% drop in passenger traffic to 17 million.

"It is clear that air travel is on the front line of this pandemic. And we believe that the only way out of this is for governments, the British, the Irish and other European governments, introduce pre-departure tests"of aircraft, said Ryanair CEO Michael O'Leary.

IAG lost 1,918 million euros in the third quarter. The airline conglomerate lost 3,806 million euros in the first half of 2020, compared to the earnings of 806 million registered in the same period of the previous year.

The 'holding' that encompasses Iberia, British Airways (BA), Vueling and Aer Lingus recorded a loss, after exceptional items, of 5,955 million euros, compared to the positive figure of 2,520 million a year before, due to travel restrictions derived from the Covid-19 health crisis.

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