International Airlines Group (IAG) announced yesterday that because of the corona crisis, British Airways will likely have to cut 12.000 jobs in order to survive this crisis. Due to the corona crisis, airlines worldwide have grounded their fleets, resulting in a massive loss of revenue. 

The loss in the first quarter of IAG this year is according to the news reports 535 million Euro. According to International Airlines Group, it may take years for British Airways passenger numbers to recover from this and return to 2019 levels. The airlines Veuling and Aer Lingus are also owned by IAG.

In a letter to the staff, Alex Cruz, Chairman and CEO of British Airways, wrote, "The prospects for the airline industry have deteriorated further in recent weeks and we need to act now."

Not only British Airways has been in trouble due to the corona crisis, KLM and Air France have received emergency assistance from the Dutch and French governments. Aviationnieuws.nl states that the Scandinavian SAS has announced that they must cut their 5.000 jobs. Marketwatch.com Delta Air Lines is also hard hit by the crisis, reporting a net loss of $ 534 million in the first quarter of 2020. This airline is eligible for government support. 

Airline Thai Airways International is also on the brink of collapse, they are in talks with the government for support. They also report that the airlines Cityjet, Virgin Australia, Air Mauritius and South African Airways have filed for Chapter XNUMX bankruptcy and Norwegian and Swedish branches have been declared bankrupt.

Also read: No air traffic to South American Argentina