<p>IAG, the owner of British Airways and Spanish carrier Iberia, dived into a loss totalling 1.3 billion euros ($1.52 billion) in the third quarter on coronavirus fallout, it announced Thursday.</p>.<p>The operating loss before exceptional items compared with profit of 1.4 billion euros one year earlier, IAG said in statement ahead of a full earnings release due next week.</p>.<p>Revenue slumped 83 per cent to 1.2 billion euros in the reporting period, it added.</p>.<p>IAG said it expects capacity in the current fourth quarter to be no more than 30 percent compared with a year earlier.</p>.<p>"As a result, the group no longer expects to reach breakeven in terms of net cash flows from operating activities during" the final three months of the year, IAG said.</p>.<p>IAG said bookings had not recovered as expected owing "to additional measures implemented by many European governments in response to a second wave of Covid-19 infections".</p>.<p>It pointed to an increase in local lockdowns, an extension of quarantine requirements for travellers and a lack of pre-departure testing.</p>.<p>New British Airways chief executive Sean Doyle on Monday urged the UK government to end the quarantining of passengers arriving from abroad.</p>.<p>British Airways, which is slashing thousands of jobs, last week announced the sudden departure of his predecessor Alex Cruz.</p>.<p>Doyle had been CEO at Aer Lingus, which like BA, is owned by airlines group IAG.</p>
<p>IAG, the owner of British Airways and Spanish carrier Iberia, dived into a loss totalling 1.3 billion euros ($1.52 billion) in the third quarter on coronavirus fallout, it announced Thursday.</p>.<p>The operating loss before exceptional items compared with profit of 1.4 billion euros one year earlier, IAG said in statement ahead of a full earnings release due next week.</p>.<p>Revenue slumped 83 per cent to 1.2 billion euros in the reporting period, it added.</p>.<p>IAG said it expects capacity in the current fourth quarter to be no more than 30 percent compared with a year earlier.</p>.<p>"As a result, the group no longer expects to reach breakeven in terms of net cash flows from operating activities during" the final three months of the year, IAG said.</p>.<p>IAG said bookings had not recovered as expected owing "to additional measures implemented by many European governments in response to a second wave of Covid-19 infections".</p>.<p>It pointed to an increase in local lockdowns, an extension of quarantine requirements for travellers and a lack of pre-departure testing.</p>.<p>New British Airways chief executive Sean Doyle on Monday urged the UK government to end the quarantining of passengers arriving from abroad.</p>.<p>British Airways, which is slashing thousands of jobs, last week announced the sudden departure of his predecessor Alex Cruz.</p>.<p>Doyle had been CEO at Aer Lingus, which like BA, is owned by airlines group IAG.</p>