LONDON (Reuters) - British Airways owner IAG (ICAG.L) has exhausted every avenue to shore up liquidity and its cash is reducing at a significant rate, its chief executive said on Monday.
“The liquidity that we have is reducing because the cash that we have is reducing,” Willie Walsh told a parliamentary committee hearing.
“We’ve probably exhausted every avenue that I can think of at this stage to shore up our liquidity. The cash has been reducing significantly and that will be the case as we go through May, June and July.
“We’re not taking in any revenue.”
Reporting by Sarah Young and Kate Holton; editing by Michael Holden