BA suspending Gatwick flights broadens European shutdown

Bloomberg

British Airways (BA) suspended operations at its second London hub at Gatwick airport as the airline industry enters deep hibernation to weather the impact of the coronavirus.
With just over a week to go until the Easter holidays, the IAG SA-owned carrier is contacting customers with the news that flights are off, a spokesperson said by email. Gatwick largely serves British Airways’ leisure travellers, and some flights are still operating from its larger Heathrow hub.
The Gatwick halt mirrors moves by rivals to preserve cash. EasyJet Plc announced that it had parked all its planes, while Irish low-cost carrier Ryanair Holdings Plc last week announced plans to ground over 90% of its fleet in coming weeks.
Air France-KLM has drastically cut back on flights, with remaining service mostly
for repatriation missions for French citizens abroad.
Holidaymakers flying out of Amsterdam will now have to wait until November next year for the opening of Lelystad Airport, a second hub for the Dutch capital, due to the
outbreak, according to Infrastructure Minister Cora van Nieuwenhuizen.
IAG said it would reduce capacity by at least 75% in April and May. The carrier group includes Ireland’s Aer Lingus, former Spanish flag carrier Iberia and discount carriers Vueling and Level.
The IATA estimates airlines worldwide could take a $252 billion hit to revenue
this year from the pandemic, warning that a liquidity crunch is just around the corner and urging governments to take “massive action” to keep the industry functioning. IAG says it has sufficient cash and hasn’t asked for a bailout from the government.
CEO Willie Walsh said March 16 that the carrier has cash and cash equivalents of $8.1 billion.