Global airlines slash almost all flights as virus spreads wings

London: Major world airlines on Monday axed almost all flights on a temporary basis as the worsening coronavirus crisis sparks travel bans, ravages demand and sends shares into freefall, triggering pleas to help carriers survive.

IAG, owner of British Airways and Spanish carrier Iberia, announced it would slash flight capacity by 75 per cent during April and May owing to the COVID-19 outbreak.

The London-based carrier’s share price crashed nearly 27 per cent in mid-afternoon deals.