IAG, the owner of British Airways, has said it will operate fewer planes than planned for the rest of the year as the pandemic continues to hit demand.
The airline group said it would fly no more than 30% of its usual flights compared to last year.
The news came as the firm – which also owns the Iberia and Aer Lingus airlines – reported a €1.3bn (£1.17bn) loss for the period from July to September.
In the same period last year, the group reported a €1.4bn profit.
IAG said revenue in the quarter plunged 83% to €1.2bn, compared to €7.3bn last year.
“Recent overall bookings have not developed as previously expected due to additional measures implemented by many European governments in response to a second wave of Covid-19 infections,” IAG said.