Aer Lingus owner plunges as airlines go into survival mode

Shares in Aer Lingus owner IAG plunged 9% and Ryanair fell more than 1% as the crisis for international airlines, in the wake of the spread of the Covid-19 virus, deepened.

German carrier Lufthansa warned the industry might not survive without state aid if the coronavirus pandemic lasts a long time, and Australia’s Qantas Airways told most of its 30,000 staff to take leave.