IAG, owner of&nbsp;British&nbsp;Airways&nbsp;and other European airlines, posted on Friday a net loss of 1.1 billion euros ($1.3 billion) in the first quarter as the coronavirus pandemic grounded planes.

It was a reduction, however, on the company's net loss of 1.68 billion euros in the first three months of 2020 as Covid took off, IAG said in an earnings statement.

It added that group revenue collapsed 79 per cent to 968 million euros in the first quarter of this year.

Passenger numbers dived 87 per cent compared to a year earlier at the company that owns also Spanish airline Iberia and Ireland's Aer Lingus.

"We're doing everything in our power to emerge in a stronger competitive position," IAG chief executive Luis Gallego said in the earnings statement.

Its earnings update came a day after rival Air France-KLM posted a net loss totalling 1.5 billion euros for the first quarter.

International travel

IAG said it would not be providing 2021 profit guidance "given the uncertainty over the timing of the lifting of government travel restrictions and the continued impact and duration of Covid-19".

Britain's government is Friday set to reveal which foreign destinations people can fly to without quarantining.

The UK has set a date of May 17 to relaunch international travel using a "traffic-light" system.

Travel destinations will be ranked green, amber or red according to virus risk, according to the government led by Prime Minister Boris Johnson.

International travel to and from the UK is banned except for a handful of permitted reasons. This has created massive pent-up demand for summer holidays abroad.

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"We're absolutely confident that a safe re-start to travel can happen as shown by the scientific data," Gallego added in the earnings statement.

"We're ready to fly, but government action is needed."

He called for "travel corridors without restrictions between countries with successful vaccination rollouts and effective testing such as the UK and the US".

Gallego added there needed to be affordable and simple testing, well-staffed borders and digital passes for testing and vaccination documentation.

"These measures will enable a safe re-opening of our skies," the IAG boss said.&nbsp;

"There's a high level of pent-up demand and aviation will play a critical role in reconnecting people and getting economies back up and running again."

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Owing to Covid fallout, IAG has axed around 10,000 jobs at&nbsp;British&nbsp;Airways, or one quarter of the carrier's workforce and has cut 500 positions at Aer Lingus.

IAG meanwhile plunged into a record annual net loss of 6.9 billion euros in 2020.

IAG, owner of British Airways and other European airlines, posted on Friday a net loss of 1.1 billion euros ($1.3 billion) in the first quarter as the coronavirus pandemic grounded planes.

IAG, owner of British Airways and other European airlines, posted on Friday a net loss of 1.1 billion euros ($1.3 billion) in the first quarter as the coronavirus pandemic grounded planes. It was a reduction, however, on the company's net loss of 1.68 billion euros in the first three months of 2020 as Covid took off, IAG said in an earnings statement. It added that group revenue collapsed 79 per cent to 968 million euros in the first quarter of this year. Passenger numbers dived 87 per cent compared to a year earlier at the company that owns also Spanish airline Iberia and Ireland's Aer Lingus. "We're doing everything in our power to emerge in a stronger competitive position," IAG chief executive Luis Gallego said in the earnings statement. Its earnings update came a day after rival Air France-KLM posted a net loss totalling 1.5 billion euros for the first quarter. International travel IAG said it would not be providing 2021 profit guidance "given the uncertainty over the timing of the lifting of government travel restrictions and the continued impact and duration of Covid-19". Britain's government is Friday set to reveal which foreign destinations people can fly to without quarantining. The UK has set a date of May 17 to relaunch international travel using a "traffic-light" system. Travel destinations will be ranked green, amber or red according to virus risk, according to the government led by Prime Minister Boris Johnson. International travel to and from the UK is banned except for a handful of permitted reasons. This has created massive pent-up demand for summer holidays abroad. "We're absolutely confident that a safe re-start to travel can happen as shown by the scientific data," Gallego added in the earnings statement. "We're ready to fly, but government action is needed." He called for "travel corridors without restrictions between countries with successful vaccination rollouts and effective testing such as the UK and the US". Gallego added there needed to be affordable and simple testing, well-staffed borders and digital passes for testing and vaccination documentation. "These measures will enable a safe re-opening of our skies," the IAG boss said. "There's a high level of pent-up demand and aviation will play a critical role in reconnecting people and getting economies back up and running again." Also read | US Treasury starts distributing $15 billion in payroll aid to airlines Owing to Covid fallout, IAG has axed around 10,000 jobs at British Airways, or one quarter of the carrier's workforce and has cut 500 positions at Aer Lingus. IAG meanwhile plunged into a record annual net loss of 6.9 billion euros in 2020.

British Airlines parent IAG loss tops 1 billion Euros in first quarter

Japan&nbsp;Airlines&nbsp;posted an annual net loss of $2.6 billion Friday but did not release a forecast for the current financial year, citing uncertainty around the coronavirus pandemic.

The carrier,&nbsp;Japan's second-largest by market share, suffered a net loss of 286.7 billion yen for the year through March, its first full-year result in the red since it relisted on the Tokyo Stock Exchange in 2012.

"There has been no indication of passenger demand recovery yet" due to restrictions on international travel and tougher immigration measures,&nbsp;JAL&nbsp;said.

"Our situation has been severe throughout this fiscal year."

The company last week revised its projection for 2020-21 net loss to 287 billion yen from a 300 billion yen forecast in February.

JAL&nbsp;said it had decided not to release an outlook for the year ending March 2022, warning "it is difficult to foresee the recovery of demand while the global spread of Covid-19 shows no sign of slowdown".

Sales plunged 65.3 per cent compared to the previous year to 481.2 billion yen.

Last month,&nbsp;Japan's top airline ANA reported its worst-ever annual loss of 404.6 billion yen, which was smaller than the firm's earlier projection.

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But ANA Holdings said it expects to see a rebound to 3.5 billion yen net profit in 2021-22, as the coronavirus disruption that has battered the aviation industry worldwide begins to ease.

Japan's&nbsp;airlines&nbsp;had expected a bumper year in 2020 when the Tokyo Olympics were originally due to be held and tourist numbers were expected to break records.

The postponed games are now set to open in July, but overseas spectators have already been barred from the event, with a decision on domestic fans delayed until June.

Japan Airlines posted an annual net loss of $2.6 billion Friday but did not release a forecast for the current financial year, citing uncertainty around the coronavirus pandemic.

Japan Airlines posted an annual net loss of $2.6 billion Friday but did not release a forecast for the current financial year, citing uncertainty around the coronavirus pandemic. The carrier, Japan's second-largest by market share, suffered a net loss of 286.7 billion yen for the year through March, its first full-year result in the red since it relisted on the Tokyo Stock Exchange in 2012. "There has been no indication of passenger demand recovery yet" due to restrictions on international travel and tougher immigration measures, JAL said. "Our situation has been severe throughout this fiscal year." The company last week revised its projection for 2020-21 net loss to 287 billion yen from a 300 billion yen forecast in February. JAL said it had decided not to release an outlook for the year ending March 2022, warning "it is difficult to foresee the recovery of demand while the global spread of Covid-19 shows no sign of slowdown". Sales plunged 65.3 per cent compared to the previous year to 481.2 billion yen. Last month, Japan's top airline ANA reported its worst-ever annual loss of 404.6 billion yen, which was smaller than the firm's earlier projection. Also read | Japan extends virus emergency as India posts record infections But ANA Holdings said it expects to see a rebound to 3.5 billion yen net profit in 2021-22, as the coronavirus disruption that has battered the aviation industry worldwide begins to ease. Japan's airlines had expected a bumper year in 2020 when the Tokyo Olympics were originally due to be held and tourist numbers were expected to break records. The postponed games are now set to open in July, but overseas spectators have already been barred from the event, with a decision on domestic fans delayed until June.

Japan Airlines logs $2.6 billion loss over pandemic

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