British Airways to Cut Up to 12,000 Jobs in Survival Fight
- U.K. carrier takes painful steps to resize for long downturn
- This quarter’s loss likely worse with virus grounding aircraft
This article is for subscribers only.
IAG SA will slash the work force at its flagship British Airways by almost 30% in a painful restructuring aimed at shrinking the airline group for a downturn that could last for years.
IAG shares fell as much as 6% Wednesday, after the airline group said that as many as 12,000 jobs will be lost at the U.K.’s former state-owned airline.