About: http://data.cimple.eu/news-article/c73a62f9dc961b6925f1c89f8017fb7d12ec012de595782942732614

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About: http://data.cimple.eu/news-article/c73a62f9dc961b6925f1c89f8017fb7d12ec012de595782942732614 Goto Sponge NotDistinct Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

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rdf:type	schema:NewsArticle
schema:articleBody	Airline giant IAG, the owner of British Airways and Spanish carrier Iberia, announced Thursday it was cutting more flights because of coronavirus restrictions and quarantine rules. It comes as IAG said it had raised 2.74 billion euros ($3.23 billion) to help the company navigate through the Covid-19 crisis that has decimated travel demand. IAG expects to operate 60 percent less capacity in the three months to the end of December from a year earlier. That compared with a previously planned capacity reduction of 46 percent. The conglomerate blamed the deeper cutbacks on "the impact of current travel restrictions and quarantine requirements on booking activity". Total 2020 capacity is expected to be 63 percent lower than in 2019 -- down from previous guidance of minus 59 percent. In response to the global health emergency, the London-listed titan embarked upon a massive jobs-slashing efficiency drive, in line with carriers like Air Canada, American Airlines and Lufthansa. The European travel giant, whose portfolio also includes Aer Lingus, Level and Vueling, is in the process of axing 13,000 jobs or more than a quarter of its workforce. "IAG acted quickly to mitigate the impacts of the Covid-19 pandemic, bolster liquidity and to protect its long-term future," it added Thursday. "The capital increase, together with its quick response to the crisis, should enable the group to emerge from the current pandemic in a strong position." The company reiterated guidance that it would take until at least 2023 for passenger demand to recover to pre-pandemic levels. rfj/bcp/gd
schema:headline	Virus-hit airline group IAG cuts flights
schema:mentions	Iberian Peninsula Busta Rhymes Global health Lufthansa American Airlines Spanish language British Airways Quarantine Pandemic Severe acute respiratory syndrome coronavirus 2 Coronavirus disease 2019 Vueling Aer Lingus Cutbacks Air Canada International Airlines Group Market liquidity
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-09-10 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	positive sentiment
http://data.cimple...readability_score	75 (xsd:integer)
http://data.cimple...tology#hasEmotion	anger

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