British Airways ‘fighting for survival,’ warns boss

Flagship carrier British Airways is burning through £20 million a day and running only a third of normal services, according to its CEO. (AFP)
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Updated 17 September 2020
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British Airways ‘fighting for survival,’ warns boss

  • BA has already laid off 13,000 staff and renegotiated the contracts of many of its remaining employees

LONDON: British Airways is having to take every measure possible to make it through the winter because a fear of flying during the pandemic has destroyed any hope of a rapid return to normality, its boss said on Wednesday.

BA CEO Alex Cruz told a parliamentary select committee that the airline was running at 25 to 30 percent of its normal flight schedule, prompting it to cut thousands of jobs because “fewer flights means fewer people required to actually service them.”

“This is the worst crisis that British Airways has gone through in its 100 years of history,” he said. “We’re still fighting for our own survival.

“We are taking every measure possible to make sure we can actually make it through this winter. We do not see a short-term coming back of our passengers. All the feedback we get ... is still pointing at a slow recovery process.”

Britain’s leading airline has been heavily criticized by politicians and unions for laying off 13,000 staff and renegotiating the contracts of many of its remaining employees.

The airline says it has no choice, because it is burning through £20 million a day and straining the finances of parent company IAG which is in the process of raising €2.74 billion from shareholders.

Cruz has cut his own pay by around a third.

UK-based airlines have benefited from government employment retention schemes and loans, but have not had the kind of industry-specific support deployed in France and Germany to bail out Air France-KLM and Lufthansa.

Cruz said a return to flying had been hampered by the weekly changes to quarantine rules and the lack of a testing system at airports. A two-stage testing system, where passengers are tested on arrival and five days later could remove the need for 14-day quarantines, he said.

“We remain worried with regards to the evolution of the rest of the winter season. People are still afraid of traveling and we are having weekly changes to the quarantine list, we don’t have a testing solution yet.


US allows countries to buy Russian oil stranded at sea for 30 days

Updated 13 March 2026
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US allows countries to buy Russian oil stranded at sea for 30 days

  • US issues 30-day license for stranded Russian oil purchases
  • Measure the latest by Trump administration to calm energy markets jolted by Iran war

The United States issued ​a 30-day license for countries to buy Russian oil and petroleum products currently stranded at sea in what Treasury Secretary Scott Bessent said was a step to stabilize global energy markets roiled by the Iran war.
The announcement comes a day after the US Energy Department said that the US would be releasing 172 million barrels of oil from the strategic petroleum reserve in an effort to curb sky-rocketing oil prices in the wake of the war in Iran. That release was part of a broader commitment by the 32-nation International Energy Agency to release 400 million barrels of oil. The agency said earlier on Thursday that he war in the Middle East ‌was creating the ‌biggest oil supply disruption in history. Bessent, in a statement on X ​released ‌hours ⁠after benchmark ​oil prices ⁠shot above $100 a barrel, said the measure was “narrowly tailored” and “short-term” and would not provide significant financial benefit to the Russian government.
“The temporary increase in oil prices is a short-term and temporary disruption that will result in a massive benefit to our nation and economy in the long-term,” Bessent said in the statement, echoing President Donald Trump.
Thursday’s license, which authorizes the delivery and sale of Russian crude oil and petroleum products loaded on vessels as of March 12, will remain valid through midnight Washington time on April 11, according to the text of the license posted on ⁠the Treasury Department’s website. The US Treasury previously issued a 30-day waiver on March ‌5 specifically for India, allowing New Delhi to buy Russian oil stuck ‌at sea. Among other measures to tame energy prices, Trump has already ordered ​the US International Development Finance Corporation to provide political ‌risk insurance and financial guarantees for maritime trade in the Gulf and said the US Navy ‌could escort ships in the region. In another attempt to control prices, the Trump administration is considering temporarily waiving a shipping rule known as the Jones Act to ensure energy and agricultural products can move freely between US ports, the White House said. Waiving the rule would allow foreign ships to carry fuel between US ports, potentially lowering costs and speeding deliveries.
“The president ‌is taking every action he can to lower prices ... unsanctioned oil that’s at sea to get that into the market, continuing to push our own ⁠producers to drill and ⁠expand production as fast and as far as they can, providing regulatory relief, and you’re going to see more and more in the days to come,” White House Deputy Chief of Staff Stephen Miller told Fox News’ “Primetime” program on Thursday.
There were about 124 million barrels of Russian-origin oil on water across 30 different locations globally as of Thursday, Fox News reported, adding that the US license would provide around five to six days of supply when taking into account the daily loss of oil from the Strait. Trump said earlier on Thursday the United States stood to make significant money from oil prices driven higher by the war, prompting criticism from some lawmakers who accused him of caring only about rich people.
US and Israeli strikes on Iran and the subsequent response by Tehran have widened regional tensions and paralyzed shipping through the Strait of Hormuz, disrupting vital ​Middle East oil and gas flows and sending energy ​prices higher.
Raising the stakes for the global economy, Iran’s Islamic Revolutionary Guard Corps says it will block oil shipments from the Gulf unless the US and Israeli attacks cease.