British Airways debt cut to junk; EasyJet to sell some planes to keep flying through the Covid-19 crisis

British Airways has said that it will grant temporary leave to more than 30,000 employees, around 80% of its staff, through April and May.

Shares in Aer Lingus-and British-Airways-owner IAG were little changed even as British Airways became the first major European carrier to lose its investment grade status amid the Covid-19 pandemic after Fitch cut its credit rating one notch to junk.

The downgrade shows the huge financial stress airlines are facing amid the Covid-19 crisis and comes as EasyJet -- Ryanair’s main rival -- said it will sell some of its planes to ensure it can get through the storm.