StockMarketWire.com - British airways owner International Consolidated Airlines reported narrower first-half losses and touted improved capacity, albeit well below 2019 levels, for the third quarter.

For the six months ended June 30, pre-tax losses narrowed to €2.34 billion from €4.21 billion year-on-year, while revenue fell to 58.2% €2.21 billion.

Passenger capacity in quarter 2 was 21.9% of 2019, but is expected to improve in the third quarter of the year.

Capacity for the third quarter will be around 45% of 2019's level, the company said.

'In the short term, our focus is on ensuring our operational readiness, so we have the flexibility to capitalize on an environment where there's evidence of widespread pent-up demand when travel restrictions are lifted,' the company said.

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