Tala Highlights Role Of Real-Time Data In Reshaping SME Lending At Money20/20 Asia

Tala’s Money20/20 Asia discussion highlights how real-time data can help reshape SME lending with faster and more informed decisions.

How Michelle Enriquez Turned A Search For Home Into DIY Travel Philippines

Michelle Enriquez turned a personal search for Filipino roots into DIY Travel Philippines, a community helping travelers explore the country with confidence.

How One Man’s Fight For Survival Shaped Asia’s Largest Dialysis Network

Asia’s largest dialysis network began with one man’s fight to survive and grew into a mission shaped by human need.

Cathay Land Taps COREnergy To Boost Energy Efficiency Across Developments

Cathay Land’s partnership with COREnergy highlights how real estate developments can make energy efficiency part of long-term growth.

British Airways To Cut 12K Jobs Amid Pandemic

British Airways will cut 12,000 jobs as the COVID-19 outbreak has grounded flights around the world. It currently employs 45,000 people.

British Airways To Cut 12K Jobs Amid Pandemic

54
54

How do you feel about this story?

Like
Love
Haha
Wow
Sad
Angry

British Airways (BA) announced on Tuesday that it will cut 12,000 jobs as the coronavirus outbreak has grounded flights around the world.

International Airlines Group (IAG), the airline’s parent company, said it will make over a quarter of BA’s workers redundant as the majority of its fleet remains grounded due to the global pandemic. BA employs 45,000 people.

IAG’s statement said: “In light of the impact of Covid-19 on current operations and the expectation that the recovery of passenger demand to 2019 levels will take several years, British Airways is formally notifying its trade unions about a proposed restructuring and redundancy program.”

The program will likely “affect most of British Airways’ employees and may result in the redundancy of up to 12,000 of them,” it added.

IAG suffered operating losses of €535 million (nearly USD580 million), or 13 percent, in the first quarter of the year, caused mainly by BA’s battering by the coronavirus. IAG said it expects the situation to worsen in the second quarter.

BA chief executive Alex Cruz wrote to employees: “In the last few weeks, the outlook for the aviation industry has worsened further and we must take action now.”

He added: “There is no Government bailout standing by for BA and we cannot expect the taxpayer to offset salaries indefinitely.

“We do not know when countries will reopen their borders or when the lockdowns will lift, and so we have to reimagine and reshape our airline and create a new future for our people, our customers and the destinations we serve.”

BA employs around 4,500 pilots and 16,000 cabin crew.

Brian Sutton, general secretary of the British Airline Pilots Association (BALPA), said BA pilots and staff are “devastated” by the news.

“This has come as a bolt out of the blue from an airline that said it was wealthy enough to weather the Covid storm and declined any Government support.”

The union vowed to fight “to save every single” job lost.

After first appearing in Wuhan, China last December, the coronavirus disease 2019 has spread to at least 185 countries and regions.

Data compiled by the US’s Johns Hopkins University shows worldwide infections surpassing 3.09 million with more than 215,000 deaths. Some 918,000 have recovered. (Anadolu)