British Airways-owner IAG stated that chief Willie Walsh would stay on until September to guide it through the coronavirus disaster and that it was planning for flights to return to service, not before July.
Walsh had been planning to retire in March but would now leave on September 24, the group stated, when Luis Gallego will succeed him.
IAG stated Thursday that it was planning for flights to resume in July and that passenger capacity could be nearly 50% lower, adding that the return was subject to the easing of lockdowns and travel bans.
The coronavirus pandemic has suspended most flights, leaving airlines internationally battling to cut costs, shed jobs, and contract their operations to attempt to ride out a travel slump, which is anticipated to last years.
IAG, which owns Iberia and Vueling in Spain and Ireland’s Aer Lingus, warned that passenger demand wouldn’t return to earlier levels until 2023, and as such, it will seek to defer deliveries of 68 planes.
That adds to measures it declared last week to try to cope with the crisis when it stated that it would seek to cut as much as 12,000 jobs or over 1 / 4 of employees at its greatest airline British Airways.
The group mentioned Thursday that it had 10 billion euros of liquidity available to it at the end of April, making it one of the financially strongest airlines in Europe.