May 11, 2020 / 9:46 AM / 2 months ago

BA-owner IAG not in a position where it needs UK bailout: CEO

FILE PHOTO: Tail Fins of British Airways planes are seen parked at Heathrow airport as the spread of the coronavirus disease (COVID-19) continues, London, Britain, March 31, 2020. REUTERS/Toby Melville

LONDON (Reuters) - British Airways-owner IAG (ICAG.L) is not in a position where it has to ask for a specific bailout from the government to see it through the coronavirus pandemic, its chief executive said on Monday.

Britain’s government has said stricken airlines should first exhaust all options for raising external cash, such as via their shareholders, before they ask the treasury for more support.

“We’re not in that position,” Willie Walsh told a parliamentary committee hearing.

Reporting by Sarah Young and Kate Holton; editing by Michael Holden

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