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Share Price Information for International Airlines (IAG)

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Share Price: 172.40
Bid: 173.00
Ask: 173.05
Change: -1.85 (-1.06%)
Spread: 0.05 (0.029%)
Open: 174.50
High: 175.55
Low: 172.40
Prev. Close: 174.25
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UPDATE 2-Heathrow tells UK: do passenger testing or lose 'quarantine roulette'

Wed, 29th Jul 2020 07:29

* Heathrow slams Britain over passenger testing

* Heathrow CEO: UK needs passenger testing fast

* Heathrow CEO: Europe is racing ahead

* British minister: there is no 'silver bullet'
(Adds British minister)

By Sarah Young and Paul Sandle

LONDON, July 29 (Reuters) - Heathrow Airport, Europe's
busiest airport, called on Britain to urgently introduce a
passenger testing regime, warning that without one it would lose
a game of global "quarantine roulette" coronavirus stalled
aviation.

The worst public health crisis since the 1918 influenza
outbreak has wrought economic turmoil across the world and just
as the travel industry restarted there are now fears of a second
wave of shutdowns after Britain imposed a quarantine on Spain.

"The UK needs a passenger testing regime and fast," Heathrow
CEO John Holland-Kaye said. "Without it, Britain is just playing
a game of quarantine roulette."

"Our European competitors are racing ahead with passenger
testing, if the UK doesn't act soon global Britain will be
nothing more than a campaign slogan," Holland-Kaye said.

British Prime Minister Boris Johnson has faced criticism for
being too slow to craft a nationwide testing programme, and the
government has bet heavily on a home testing approach that has
been dogged by delays.

Asked about such sharp criticism from the head of the
country's biggest airport, said there was no silver bullet.

"There's not a silver bullet of just testing immediately at
the border," Culture Secretary Oliver Dowden told the BBC. "It
can incubate over a period of time so there's not a silver
bullet of just testing immediately at the border."

Heathrow, along with airlines and the entire tourism
industry, is hurting.

Passenger numbers fell 96% in the second quarter while cargo
volumes fell over 30%. Revenue fell 85%. Heathrow, though, said
its finances remained robust.

It said it had enough cash to last until at least June 2021
with no revenue.

"We have agreed a waiver on financial covenants until the
end of 2021 and maintained our Investment Grade credit rating
status," it said.
(Editing by Guy Faulconbridge)

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