Worldwide Airways Group scraps annual dividend | Information

Worldwide Airways Group has scrapped a deliberate dividend for shareholders within the wake of the coronavirus pandemic.

Stephen Gunning, chief monetary officer for the corporate, stated all revenue for the monetary yr would now be allotted to the voluntary reserve with a purpose to defend the liquidity of the corporate.

A remaining dividend of 0.17 euros per share had beforehand been proposed.

On the identical time, the IAG board has resolved to delay the date of such annual shareholders’ assembly, initially scheduled for June, till the tip of September.

IAG-owned British Airways is anticipated to furlough as many as 36,000 employees later, having drastically minimize companies throughout April and Might.

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