At the same time, the Board has resolved to delay the date of such Annual Shareholders’ Meeting 2020, originally scheduled for June, until the end of September 2020.
As a result of the impact of the situation created by COVID-19, the Board of Directors of International Consolidated Airlines Group, S.A. (IAG) has resolved to withdraw the proposal to the next Annual Shareholders’ Meeting to pay a final dividend of 0.17 euros per share and, instead, to propose the allocation of all the profit for fiscal year 2019 (except the amount already paid as interim dividend) to the voluntary reserve.
At the same time, the Board has resolved to delay the date of such Annual Shareholders’ Meeting 2020, originally scheduled for June, until the end of September 2020.
IAG further reduces capacity and accesses job retention and wage support schemes
IAG continues to take every action to reduce operating expenses and improve cash flow.
On 16 March 2020, IAG announced that it would reduce capacity, expressed in terms of available seat kilometres, by at least 75 per cent in April and May compared to the same period in 2019. In recent weeks, IAG’s airlines have been helping to repatriate customers throughout the world and to conduct cargo flights delivering vital medical equipment and supplies, food and other products to combat COVID-19 and keep global supply chains moving.
Following a review, IAG has decided to reduce capacity further to an approximately 90 per cent reduction in April and May compared to last year.
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.
She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
