British Airways owner IAG has more than halved its losses from £7.8 billion to £3.5 billion before tax last year as it made some progress towards bouncing back from Covid-19.
The group reported revenue had increased 8.3 per cent to £8.5 billion in the year to December. The number of passengers it carried was at 58 per cent of 2019 levels in the last three months of the year, up from 43 per cent in the quarter before.
The business was helped in early November when the US reopened its borders to foreign travellers. However, the emergence of Omicron just weeks later dealt the airline another blow.
