British Airways warns up to 12,000 jobs will go due to coronavirus pandemic

Operating losses in the second quarter will be significantly worse than in the first three months of the year given the decline in passenger capacity and traffic despite some relief from government job retention and wage support schemes, it said. It didn't give 2020 profit guidance."British Airways is formally notifying its trade unions about a proposed restructuring and redundancy program," the statement added.

The measures come after IAG boss, Willie Walsh, a dealmaker who made his name standing up to unions and cutting costs, last month put off plans to retire to deal with the industry's worst crisis. Highlighting the speed of the damage as governments imposed lockdowns to contain the pandemic, IAG said all the decline in operating profit in the first quarter came in March.Get our Coronavirus Update newsletter for the day's crucial developments at a glance, the numbers you need to know and what our readers are saying. Sign up to

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