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Industry Update

British Airways is to ground flights 'like never before' and lay off staff in response to the coronavirus. In a memo to staff titled "The Survival of British Airways", boss Alex Cruz warned that job cuts could be "short term, perhaps long term”. The airline industry was facing a "crisis of global proportions" that was worse than that caused by the SARS virus or 9/11. Meanwhile, Ryanair told staff they may be forced to take leave from Monday. An internal memo to Ryanair staff, seen by the BBC, said crew may be allocated to take unpaid leave due to cancelled flights and schedule changes. BA boss Mr. Cruz said: "We can no longer sustain our current level of employment and jobs would be lost - perhaps for a short term, perhaps longer term. “The airline is in talks with unions but gave no further details about the scale of the likely job losses in the video message transcript seen by the BBC.

Source: https://www.bbc.com/news/business-51875271