2nd Apr 2020 13:42
(Alliance News) - British Airways owner International Consolidated Airlines Group SA on Thursday said Covid-19 has forced it to withdraw its dividend.
IAG had declared a EUR0.17 final dividend for 2019 but has now decided against following through, in line with numerous other blue-chip companies.
Shares were 1.0% higher on Thursday afternoon in London at a price of 204.50 pence each.
Airlines around the world are in crisis as countries close their borders and order citizens to stay at home as much as possible to help contain the spread of the coronavirus.
easyJet PLC has grounded its entire fleet, while Wizz Air Holdings PLC on Thursday reported a 33% fall in passenger numbers in March on the same month a year earlier.
British Airways has stopped serving Gatwick, the UK's second busiest airport, amid the collapse in demand.
On Wednesday, US President Donald Trump said he is weighing grounding domestic flights between Covid-19 hotspots to try to contain the spread of the disease in the country.
By George Collard; [email protected]
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