Cruz said the changes he was proposing were solely a consequence of the pandemic: “The job at hand is huge, it is structural, it is really long term.”
He said Covid-19 was the worst crisis BA had faced, far exceeding the effects of its last big shock, the financial crisis. “In the first quarter of 2009 we lost £309m. This year in the first quarter we lost £700m.”
Cruz said passenger numbers had taken four years to recover then but the impact on BA’s business-class revenue had remained: “The percentage of business passengers in premium cabins never recovered.”...more
