LONDON British Airways parent company said Thursday it will cut flights due to coronavirus travel restrictions and quarantine requirements and confirmed it is raising 2.7 billion euros ($3.2 billion) through the sale of new shares.
Qatar Airways, which owns 25% of IAG, has undertaken to take its share of the cash call.
Over the past few weeks, British tourists in particular have faced travel chaos after the government took countries off its safe list.
Other airlines have also had to cut back on flights, including EasyJet, which earlier this week bemoaned the unpredictable restrictions.
It also said it has reached an agreement in principle with the Unite union over changes to the pay and conditions of British Airways cabin crew, with a ballot expected shortly.