IAG has said it will plan for a “meaningful return” of British Airways flights in July at the earliest if lockdown measures are relaxed.
But the company, which also owns Iberia and Aer Lingus, said its plans were “highly uncertain”, and subject to various travel restrictions. CEO Willie Walsh, who was due to retire in March, is now set to stay on until 24 September when he will be succeeded by Luis Gallego.
Passenger demand won’t recover until 2023
IAG said it did not expect passenger demand to recover before 2023. British Airways announced last week that it would axe up to 12,000 jobs due to the collapse in business.
The group also said that it had 10 billion euros of liquidity available to it at the end of last month and it planned to defer deliveries of 68 aircraft as a result of the lower demand.