British Airways owner IAG hit by €1.2bn loss amid ‘uncertain’ passenger forecast

The owner of British Airways, International Airlines Group, reported a €1.2bn pre-tax loss for the first quarter and reiterated the need for the rollout of digital vaccine passports to enable the beleaguered aviation industry to get passengers back in the skies. Read more: British Airways owner IAG hit by €1.2bn loss amid ‘uncertain’ passenger forecast

British Airways owner IAG hit by €1.2bn loss amid ‘uncertain’ passenger forecast

The owner of British Airways, International Airlines Group, reported a €1.2bn pre-tax loss for the first quarter and reiterated the need for the rollout of digital vaccine passports to enable the beleaguered aviation industry to get passengers back in the skies.

IAG said passenger capacity slumped to less than a fifth of pre-pandemic levels in the first three months of 2021, and it expects only a slight improvement in the second quarter to 25% of 2019 levels.

The airline group, which made a €1.8bn (£1.6bn) pre-tax loss in the first quarter last year, said its forecast on passenger numbers remains “uncertain and subject to review”.

Luis Gallego, the chief executive of IAG, said: “We’re doing everything in our power to emerge in a stronger competitive position. We’re absolutely confident that a safe restart to travel can happen as shown by the scientific data. We’re ready to fly but government action is needed.”

Gallego called for four measures including restriction-free travel corridors between countries, “affordable, simple and proportionate” testing to replace quarantine, “contactless” transit through airports and digital health passes and vaccine documentation.

“These measures will enable a safe reopening of our skies,” he said.

IAG cut its weekly costs to €175m a week in the first quarter and passenger revenues plunged by 88% in the first quarter to €459m. In the same period last year, passenger revenues were €3.9bn.

The company said its cargo operation enabled it to operate a “more extensive passenger long-haul network”. IAG operated 1,306 cargo-only flights in the first three months, which generated €350m in revenue, a 42% year-on-year increase and a record for the first quarter. In the final three months of last year, IAG operated 969 cargo-only flights.

“Given the uncertainty over the timing of the lifting of government travel restrictions and the continued impact and duration of Covid-19, IAG is not providing profit guidance for 2021,” the company said.

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British Airways owner IAG hit by €1.2bn loss amid ‘uncertain’ passenger forecast

Source : Business Matters More   

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5 beautiful cities to visit in Egypt

Egypt is one of the most impressive countries in Africa, especially thanks to its cities. Don’t forget to add these 5 beautiful places to your itinerary! Read more: 5 beautiful cities to visit in Egypt

5 beautiful cities to visit in Egypt

Egypt is one of the most popular destinations in Africa, and for good reasons!

With plenty of warm sunshine to last all year, beautiful sandy beaches, and thousands of years of history (it is, after all, one of the oldest civilizations), a holiday to Egypt is a must for any adventurous traveller.

To get you started, we have come up with 5 of the most beautiful cities to add to your Egypt itinerary. All you need is your Egypt visa for UK citizens, some sunglasses, and a holiday mood.

Cairo: The Captivating Capital of Egypt

Many tourists begin their Egyptian journey in Cairo, the capital and largest city, so naturally, this will be our starting point as well!

Cairo attracts visitors with its versatility, cosmopolitan infrastructure, and an atmosphere that can only be found in the capital. Walk through the dozens of museums that cover a wide variety of topics, from Islamic art to ancient Egyptian relics, traditional crafts, rich palaces, and more.

One of the most beautiful areas in all of Cairo is the Khan Al-Khalili market (also known as a souk) thanks to its antiquated arches, eye-catching goods on sale, and friendly locals.

Bargain with sellers in a real Egyptian market, or admire the beauty of ancient mosques and temples on your way back to the hotel.

Of course, we can’t forget the world-famous pyramids that are located in the neighbouring city of Giza, some 20 kilometres from Cairo…

Giza: One of the Seven Wonders 

When someone says the word Egypt, we bet that one of the first things to pop into your head are the pyramids of Giza.

In fact, the pyramids of Giza are one of the Seven Wonders of the World and the very hallmark of Egypt. The pyramids were originally built as royal tombs for three different pharaohs, with one large pyramid and two smaller ones. The oldest pyramid of the group was built for Khufu, the second king during the 4th dynasty.

Although most people think that Giza is a desert thanks to its association with the pyramids, it is actually the second-largest city in Egypt!

After touring the pyramids, continue your journey through Egyptian culture at the Great Egyptian Museum or stroll the old streets of the city. Don’t forget to catch the sunset in the desert among the golden sands of the desert.

Luxor: Ancient Tombs and Temples Abound

Thanks to its location on the banks of the Nile, Luxor boasts many exotic and well-preserved antiquities. The whole city is like a huge open-air museum that will take you centuries into the past!

To start off, the city is divided into the right bank (the “City of the Living”) and the left banks (the “City of the Dead”). This is because the left bank contains many tombs and temples that were part of the “Valley of the Pharaohs”, the burial place of the great Egyptian rulers. There are about 40 tombs here, and it is here that the tomb of Tutankhamun was found. Other famous sites include the temple of Queen Hatshepsut and the burial temple in honour of the god Amon-Ra.

Moving across the river, we come to the right bank, where the famous Luxor and Karnak temples are located. Here you will see the Column Hall of Pharaoh Seti I, consisting of 134 tall columns. Each column is painted from top to bottom with coloured bas-reliefs and this creates unforgettable beauty and a great place for a photo. On the south side of the temple, there is a sacred lake, on the shore of which there is a large sacred scarab beetle.

Alexandria: The ‘European’ Part of Egypt 

Alexandria is one of the most popular stops on cruise tours and historic day trips, and for good reason: many call it the ‘European corner’ of Egypt thanks to its western-style architecture.

The city delights tourists with its beaches, chic resorts, and beautiful seaside promenade.

It feels as if Alexandria was created for carefree walks along the Corniche, sitting in cafes, and shopping in bazaars. You will surely remember the combination of European architecture and oriental flavour for years to come.

Hurghada: The Best Summer Getaway 

How could we forget about everybody’s favourite summertime resort?

Start your holiday by enjoying the beauty of nature and the atmosphere of the narrow streets while wandering around the old town of Hurghada. Here you can see the largest and most important mosque in the city, Ed-Mina. In the daytime, forty-meter minarets are visible from any part of the city, and at night, the mosque comes alive in a beautiful array of colours and hues.

If you want to enjoy the nature of Hurghada, a trip to Giftun Islands is in order. There, you can relax on one of the most beautiful beaches in the world or take an all-day tour that includes snorkeling, dune buggies, and dolphin watching.

 

Read more:
5 beautiful cities to visit in Egypt

Source : Business Matters More   

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