British Airways parent company slashes passenger forecast

LONDON – The parent company of British Airways has cut its fourth-quarter passenger forecast to just 30% of last year’s level as government restrictions imposed to control a new wave of coronavirus infections reduces demand for flights.

International Airlines Group made the announcement Thursday as it posted a third-quarter operating loss of 1.3 billion euros ($1.7 billion), compared with a profit of 1.4 billion euros in the same period last year.

The company said it reduced the fourth-quarter passenger forecast because of additional restrictions, including “an increase in local lockdowns and extension of quarantine requirements to travellers from an increasing number of countries.’’

The company said that measures meant to mitigate the disruption, such as pre-departure testing and air corridor arrangements, “have not been adopted by governments as quickly as anticipated.”