LONDON, May 11 — British Airways owner IAG has exhausted every avenue to shore up its finances and is burning through cash, its CEO said today, as the aviation industry warned of the fresh damage it would suffer if Britain quarantines international arrivals. Willie Walsh told parliament’s...
A British Airways plane taxis past tail fins of parked aircraft to the runway near Terminal 5 at Heathrow Airport in London, Britain March 14, 2020. — Reuters pic
While Walsh said IAG was not in a position where it had to ask for a specific bailout from the government, he added the quarantine plan would add to the pressure on the group. Britain’s aviation industry is already facing a battle to survive, with most flights grounded since March due to travel restrictions to contain the pandemic.
The industry body has already asked for Britain’s job retention scheme to be extended beyond June, and requested a temporary suspension of some taxes airlines pay, such as air passenger duty.
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