(ANSA) - MILAN, APRIL 28 - British Airways "is formally denying its unions a restructuring proposal and a redundancy program" which "will probably impact most of the employees" of the company and which "could cause up to 12 thousand redundancies". This is stated in a note from Iag, the holding that controls British Airways and Iberia.
The announcement was made in conjunction with the first quarter results. Revenues, due to the Covid-19 epidemic, dropped to £ 4.6 billion (-13% on the same period last year), while the operating result before extraordinary items recorded a loss of £ 535 million (profit of 135 million in 2019). The tax payer will also pay an extraordinary cost of 1.3 billion due to the ineffectiveness of the fuel coverage tools and the currencies for the rest of 2020. A "significantly worse" loss is expected for the second quarter.
British Airways announces 12,000 redundancies
2020-04-28T17:08:24.480Z
British Airways "is formally notifying its unions of a restructuring proposal and a redundancy program" which "will likely impact most of the company's employees" and which "could cause up to 12,000 redundancies". (HANDLE)