The British Airways to resume flights from July after 1.5BN loss due to coronavirus that has been taken as the significant and the important news that pour into the airline industry in the highly effective manner after the huge damage contributed on the part of the destructive Covid-19 to the greatest extent. It has been mentioned that the British Airways has decided to resume the huge quantity of the flights from the month of July.
Moreover, according to the CEO, the firm has been able to decide to operate around 1,000 flights in the single day. This will take place from the month of July till the end of September. This is certainly the worrisome development as the Covid-19 hit the industry very badly. But on the other hand, the group had planned to operate around 70% of the scheduled flights.
Furthermore, it was mentioned that the demand level of the group would not be able to get back to its 2019’s level. It will take many years to recover in the best possible manner. The current and unprecedented crisis is the major reason behind this development surrounding this industry. It was said that the group has been able to stop around 94% of the flights.
Undeniably, this is owing to the travel restrictions that took place after the Covid-19. The most important news is the fact that the British Airways fired around 12,000 of its employees. According to the Walsh, CEO, it is expected that the more job cuts are likely to be taking place.
Undoubtedly, he also mentioned that the IAG would not be influenced the way other airlines are shrinking their operations. It has been mentioned that the travelers who are more recreational in nature would start demanding.
Nevertheless, Walsh further added that he is confident about the management of the airline in the best possible manner. IAG borrowed £ 300m attached with the UK coronavirus corporate finance facility.
Lastly, this is the facility that is being utilized for the purpose of enabling firms to bounce back. The performance and financial position of the company is said to be in line with the February’s performance.