• Privacy policy
  • T&C’s
  • About Us
    • FAQ
    • Meet the Team
  • Contact us
TLE ONLINE SHOP!
  • TLE
  • News
  • Politics
  • Business
  • Sport
  • Opinion
  • Elevenses
  • Entertainment
    • All Entertainment
    • Film
    • Lifestyle
      • Horoscopes
    • Lottery Results
      • Lotto
      • Thunderball
      • Set For Life
      • EuroMillions
  • Food
    • All Food
    • Recipes
  • Property
  • Travel
  • Tech/Auto
  • JOBS
No Result
View All Result
The London Economic
SUPPORT THE LONDON ECONOMIC
NEWSLETTER
  • TLE
  • News
  • Politics
  • Business
  • Sport
  • Opinion
  • Elevenses
  • Entertainment
    • All Entertainment
    • Film
    • Lifestyle
      • Horoscopes
    • Lottery Results
      • Lotto
      • Thunderball
      • Set For Life
      • EuroMillions
  • Food
    • All Food
    • Recipes
  • Property
  • Travel
  • Tech/Auto
  • JOBS
No Result
View All Result
The London Economic
No Result
View All Result
Home Travel

BA owner bailed out by Spanish government – but there’s no help for UK airline

The money can be used to help Spanish carriers Iberia and Vueling and comes the day after BA announced it would be cutting 12,000 jobs.

Jack Peat by Jack Peat
2020-05-01 14:50
in Travel
Credit;PA

Credit;PA

FacebookTwitterLinkedinEmailWhatsapp

British Airways’ parent company has signed agreements for one billion euro (£900 million) of loans backed by the Spanish government, but the money cannot be used to help its UK airline which is cutting up to 12,000 jobs.

IAG said the money can be used to help its Spanish carriers Iberia and Vueling mitigate the economic impact of the coronavirus pandemic.

There are “restrictions on the upstream of cash to the rest of the IAG companies”, the firm added.

IAG has not requested a loan from the UK Government.

It announced this week that up to 12,000 jobs will be lost at BA, representing more than a quarter of the workforce.

On Thursday it emerged that the airline may not resume operations at Gatwick, the UK’s second busiest airport.

In a letter to staff, BA chief executive Alex Cruz wrote: “There is no Government bailout standing by for BA.”

RelatedPosts

Barcelona: spires, style and sangria in the Gothic Quarter

Brexiters foaming as Spain may force Brit visitors to prove that have £85 a day to spend on holiday

Travel expert pins blame for Dover chaos on Brexit

Anyone surprised? Britain’s railways not engineered to cope with heatwave

Pilots’ union Balpa has vowed it will fight to “save every pilot job at BA”.

According to Alex Macheras the British Airways’ owner has so far not requested a government rescue from UK, nor has IAG sought extra funds from its largest shareholder, Qatar Airways.

Related: Urgent plea to Government to help town ‘most affected’ by lockdown

Subscribe to our Newsletter

View our  Privacy Policy and Terms & Conditions

Trending on TLE

  • All
  • trending
Abdollah

‘Rescue us’: Afghan teacher begs UK to help him escape Taliban

CHOMSKY: “If Corbyn had been elected, Britain would be pursuing a much more sane course”

What If We Got Rid Of Prisons?

More from TLE

Restaurant Review – The Florence

Former G4S Care & Justice Services executives charged with fraud

Easy French Apple Tart

Woman and teenage girl blasted in drive by shooting on residential street

Yule never find my presents

Theatre Review: Years of Sunlight, Theatre 503

Tories could be banished from Scotland in next general election

Video of Sir Chris Whitty being harassed and called a ‘liar’ on the street surfaces

John Lewis makes loss as it warns of dangers of no-deal Brexit

UK records 23k new cases and 501 deaths in past 24 hours

JOBS

FIND MORE JOBS

About Us

TheLondonEconomic.com – Open, accessible and accountable news, sport, culture and lifestyle.

Read more

© 2019 thelondoneconomic.com - TLE, International House, 24 Holborn Viaduct, London EC1A 2BN. All Rights Reserved.




No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Entertainment
  • Lifestyle
  • Food
  • Travel
  • JOBS
  • More…
    • Elevenses
    • Opinion
    • Property
    • Tech & Auto
  • About Us
    • Meet the Team
    • Privacy policy
  • Contact us

© 2019 thelondoneconomic.com - TLE, International House, 24 Holborn Viaduct, London EC1A 2BN. All Rights Reserved.