Flying just 20% capacity in the three months to the end of March resulted in the group posting the operating loss before exceptional items of 1.14 billion euros.
“International passenger traffic was down almost 89% and is showing no signs of recovery in the current environment,” IATA’s new director general Willie Walsh said at a presentation on Wednesday.
BA, owned by IAG, said on Friday it would trial the use of a mobile travel health passport, VeriFLY, following American Airlines, which is already using it.
Flying is currently at minimal levels, with flight volumes in Britain down more than 80% due to lockdowns and restrictions which ban most people from travelling.
The airline made the announcement in a tweet stating that it will suspend direct flights from Lahore, Pakistan to London Heathrow from April 2021 due to a change in their summer schedule.
The UK-based airline had stated direct flights to Lahore on October 14, 2020.
Restrictions on travel due to the pandemic meant that UK-based airlines were already operating at low levels.
"Our focus is on keeping crucial air links open - transporting vital goods and ensuring people who are permitted to travel can continue to do so safely.
UK's flag-carrier British Airways has decided to move part of its Airbus A380 fleet for storage to Madrid due to a fall in large-scale passenger demand amidst the second COVID wave.
Parent group IAG added in a statement that the Spanish businessman, who had been BA chief executive for four and half years, will be replaced by its Aer Lingus boss Sean Doyle.
I am pleased to report we have made significant progress in these areas with both unions which will help us to save jobs and mitigate the impact of redundancies.
Customer-facing ground staff at Heathrow will not face compulsory redundancy, said the Financial Times.
As per details, the carrier is resuming its air operations to Pakistan from August, the British company will operate three flights a week from Heathrow to Islamabad.
All three airlines had hoped to resume regular flights after air travel came to a total standstill during the coronavirus pandemic, leading to almost 20,000 job losses between them.
The chief executive of London's Heathrow, John Holland-Kaye, told the City AM newspaper it could lead to the loss of potentially 25,000 jobs at his airport -- a third of staff.