British Airways parent IAG pulls dividend due to Covid-19 outbreak
By Michele Maatouk
Date: Thursday 02 Apr 2020
(Sharecast News) - British Airways parent International Consolidated Airlines Group has scrapped its final dividend as it looks to weather the coronavirus pandemic.
The company, which also owns Iberia and Aer Lingus, said on Thursday that it will not be paying a final dividend of 0.17 euros per share but will instead propose the allocation of all the profit for fiscal year 2019 to a voluntary reserve.
Earlier in the day, it was reported that British Airways was preparing to place 36,000 staff on furlough in response to the pandemic and was in talks with unions on a final deal.
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