Load Error IAG, which also includes Aer Lingus of Ireland and the two Spanish airlines, Iberia and Vueling, has published its financial results for the first three months of 2020. Unsurprisingly, the aviation conglomerate said: “IAG expects that its second quarter will be significantly worse than the first quarter.” Willie Walsh, the chief executive, was due to retire in March 2020 but has stayed in post because of the Covid-19 crisis. “March’s performance was severely affected by government travel restrictions due to the rapid spread of COVID-19 which significantly impacted demand. “We are taking all appropriate actions to preserve cash, reduce and defer both capital spending and operating costs and secure additional financing in order to strengthen and maintain our liquidity.” IAG is cutting up to 29 per cent of staff at British Airways, amounting to 12,000 of the 42,000 jobs. After photographs emerged on Monday of a packed Aer Lingus flight from Belfast to London Heathrow, many prospective passengers have expressed concern about the lack of social distancing on board aircraft. The aviation industry is desperate to reassure customers that they can travel safely in the company of strangers – with airlines and airports imposing a range of controls from pre-flight temperature checks to wearing face masks on board. Related: Retail businesses that started the year you were born (Lovemoney) Mr Walsh said: “We will adapt our operating procedures to ensure our customers and our people are properly protected in this new environment. The chair, Huw Merriman MP, said: “In March, BA’s parent, IAG, warned against the UK government bailing out its competitors and said it would administer ‘self-help’ before seeking support. “In Spain, it would appear that BA’s parent has adopted a different strategy of seeking substantial government financial support and maintaining its operations and employee numbers.
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