British Airways to cut up to 12,000 jobs

Job cuts: Tail fins of British Airways planes are seen parked at Heathrow airport in London. IAG SA will slash the work force at its flagship airline by almost 30%. — Reuters

LONDON: IAG SA will slash the work force at its flagship British Airways by almost 30% in a painful restructuring aimed at shrinking the airline group for a downturn that could last for years.

IAG shares fell as much as 6% yesterday, after the airline group said that as many as 12,000 jobs will be lost at the UK’s former state-owned airline.