UPDATE 2-BA-owner, easyJet make drastic cuts to try to survive coronavirus [Reuters]
INTL CONSL AIRLNS S/ADR (ICAGY)
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Source: Reuters
British Airways-owner, easyJet make drastic cuts to try to survive coronavirus LONDON (Reuters) - The owner of British Airways and easyJet, Europe’s no.3 and no.4 airlines, said they would ground aircraft on an unprecedented scale in a battle to survive the travel restrictions and European lockdowns now convulsing the industry. Britain’s government said it would discuss how to protect the industry from the coronavirus pandemic after easyJet on Monday joined Virgin Atlantic in calling for government help as people across the world stop traveling. “European aviation faces a precarious future and it is clear that coordinated government backing will be required to ensure the industry survives and is able to continue to operate when the crisis is over,” easyJet’s CEO Johan Lundgren said in a statement. BA-owner IAG ( ICAG.L ) stopped short of asking for government backing, however. IAG’s CEO Willie Walsh has long-opposed any government help for airlines. He was due to retire later this m
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