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European airlines drop guidance and warn it could take years for demand to bounce back

May 7, 2020


A number of European airlines have dropped their financial guidance for the year, as the ongoing coronavirus pandemic creates widespread uncertainty about when business will return to normal.

IAG — the parent company of British Airways, Vueling and Iberia — and AirFrance-KLM said Thursday that there was a high level of uncertainty about the duration of the global health crisis and the consequent economic crisis. As a result, both companies withdrew their earnings forecasts for the year.

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