The group said the spread of the infection and subsequent state travel restrictions and advisories was having a “significant and increasingly negative” on demand across “almost all routes” operated by IAG group airlines.
IAG on Monday (16 March) outlined a wide range of cost-saving measures, including grounding surplus aircraft, freezing recruitment and encouraging voluntary leave.
In a trading update, the group said its finances were healthy, stating its total liquidity amounted to €9.3 billion. However, citing the ongoing uncertainty and potential impact of Covid-19, it was no longer possible to give any accurate profit guidance for the full year.
