British Airways planning 12,000 redundancies

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British Airways planning 12,000 redundancies after owner IAG racks up losses of £466m in the first quarter

By Daily Mail City & Finance Reporter

Published: | Updated:

Up to 12,000 British Airways staff will be made redundant after its owner IAG racked up losses of £466million in the first quarter.

Coronavirus has wiped out demand and IAG believes it will take several years for air travel to recover to 2019 levels. 

It has cut 94 per cent of its flights in April and May compared to last year.

Grounded: Up to 12,000 British Airways staff will be made redundant after its owner IAG racked up losses of £466m in the first quarter

IAG, which is also the parent company of Ireland’s Aer Lingus and Spain’s Iberia, said revenues fell 13 per cent to £4billion between January to March. 

It made a profit of £118million in the first quarter of 2019.

The company is starting formal talks with unions about the cuts at British Airways, which employs 42,000 people and has furloughed almost 23,000 staff in April.

Brian Strutton, of pilots’ union Balpa, said: ‘This is a bolt out of the blue from an airline that said it was wealthy enough to weather the Covid storm. 

‘Balpa does not accept a case has been made for these job losses and we will be fighting to save every single one.’

IAG expects second-quarter losses to be ‘significantly worse’.

 

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