British Airways-owner IAG reported on Tuesday a big loss in the first quarter and warned it may cut up to 12,000 jobs in sweeping restructuring measures aimed at weathering the crisis inflicted on the airline industry from the coronavirus.
FILE PHOTO: British Airways logos are seen on tailfins at Heathrow Airport in west London, Britain May 12, 2011. REUTERS/Toby Melville
First-quarter operating losses before exceptional items were 535 million euros , compared with a profit of 135 million a year ago as revenue dropped 13% to 4.6 billion euros. Echoing comments from its rivals, the airline said in a statement it will take several years for passenger demand to return to 2019 levels.
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