British Airways may be forced to cut more than a quarter of its workforce as the coronavirus pandemic takes its toll on one of Europe's biggest airlines
Parent company IAG said in a statement Tuesday that British Airways is notifying labor unions about a restructuring program which will affect most employees and"may result in the redundancy of up to 12,000 of them."IAG, which also includes Spanish airline Iberia, said its first quarter revenues declined 13% to €4.6 billion as it swung to an operating loss of €535 million .
Virgin Australia collapsed into administration last week, while sister airline Virgin Atlantic confirmed Monday that it was on the hunt for outside investors to keep it alive. Virgin Atlantic, which is controlled by Richard Branson's Virgin Group, is also seeking a commercial loan from the UK government.
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