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Business & Finance

British Airways facing its crisis of the century

  • Due to the financial crisis caused by the COVID-19, British Airways has cut its staff by 13,000 employees and re-contracted the remaining employees.
17 Sep 2020

British Airways, the state-run airline, has been hit by the worst financial crisis in its history due to a lockdown caused by the coronavirus pandemic.

As per details, the CEO of British Airways told the parliamentary committee in a briefing that all hopes of a quick return to normalcy have been dashed due to fear of flying planes during the global pandemic. Every possible step is being taken to spend the winter season, the CEO told the committee.

The CEO of British Airways said that the airline was operating at 25 to 30 percent of its regular flights.

The head of the airline informed that thousands of jobs have been lost due to financial difficulties, saying that having very few flights meant that fewer people were needed to provide services to the people.

The British Airways chief told the committee that the airline was currently going through the worst period in its 100-year history and that we were fighting for our survival.

"We are not seeing an immediate return of our passengers in a short period of time, so the airline is taking all possible steps to ensure that the winter season passes," he said.

According to media reports, due to the financial crisis caused by the COVID-19, British Airways has cut its staff by 13,000 employees and re-contracted the remaining employees.

The company says it has no choice but to lose 20 million pounds a day, while the airline's CEO has also slashed his salary by almost a third.