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Pin to quick picksInternational Airlines Share News (IAG)

Share Price Information for International Airlines (IAG)

London Stock Exchange
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Share Price: 162.25
Bid: 162.40
Ask: 162.55
Change: 1.35 (0.84%)
Spread: 0.15 (0.092%)
Open: 160.85
High: 163.55
Low: 159.90
Prev. Close: 160.90
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Britain's airlines say extra support needed if travel stays shut

Thu, 10th Jun 2021 00:01

LONDON, June 10 (Reuters) - Airlines based in Britain have
told the government they will need industry-specific support to
help them survive if COVID-19 rules continue to keep travel
markets shut.

Companies including British Airways, easyJet
and Ryanair are in a deepening crisis after
Britain's plans to restart travel on May 17 following a 4-1/2
month ban on foreign holidays fell far short of their hopes.

Britons are still discouraged from travelling to most
countries, and since the May reopening, the government has
tightened the rules, removing one of the few destinations that
was open, Portugal, from a safe travel list.

As July and August approach, the months when airlines make
most of their profits, there are worries the summer season may
be lost for a second year in a row, risking airline viability
and jobs.

"If a meaningful reopening is not possible during the summer
... then targeted economic support will be essential to ensure
UK airlines are able to reach the point when a restart is
possible, in order to protect many tens of thousands of jobs,"
industry lobby Airlines UK said in a letter to finance minister
Rishi Sunak on Thursday.

Come the end of September, government support schemes to
protect jobs are also due to end, a worry for airlines that
might still be grounded due to foreign travel restrictions.

Airlines UK said it wanted Sunak to extend furlough for
aviation workers to the end of April 2022, give airlines longer
to repay COVID-19 government loans, and launch a "restart grant"
scheme to help airlines pay to maintain planes they cannot use.

In the letter, the airlines said their preference would be
for travel to restart and be unrestricted for vaccinated people.
But recent government policy and comments suggest this is
unlikely.

That puts UK airlines at a disadvantage to peers in Europe,
as countries there begin to allow more travel, while Britain
sticks with its 10 day quarantine and testing requirements.
(Reporting by Sarah Young
Editing by Mark Potter)

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