International Consolidated Airlines Group (IAG), the parent of British Airways, (OTCMKTS: ICAGY) announced a profit loss of 535 million euros ($576 million) for the first quarter of 2020, compared to a profit of 135 million euros ($145 million) for the same period last year.
The company also said that Luis Gallego, who heads Spanish subsidiary Iberia, will succeed CEO Willie Walsh on September 24. Walsh postponed his planned retirement in March to help the company through the coronavirus crisis.
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https://www.freightwaves.com/news/iag-expects-passenger-business-to-lag-until-2023