March 16, 2020 / 7:34 AM / 4 months ago

British Airways-owner to cut capacity by 75%, CEO Walsh staying on

FILE PHOTO: A British Airways plane taxis past tail fins of parked aircraft to runway near Terminal 5 at Heathrow Airport in London, Britain March 14, 2020. REUTERS/Simon Dawson

LONDON (Reuters) - The owner of British Airways said it would cut its flying capacity by at least 75% in April and May and its outgoing boss Willie Walsh would defer his retirement in its fight to survive the coronavirus outbreak.

International Consolidated Airlines Group (ICAG.L) said it would also ground flights, freeze discretionary spending, reduce working hours and temporarily suspend employment contracts.

Reporting by Kate Holton; editing by Sarah Young

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