British Airways owner bets on costs not bailouts to survive

LONDON (Reuters) - A plan to axe up to 12,000 jobs at IAG's British Airways underlines CEO Willie Walsh's desire to survive what is expected to be aviation's worst downturn without a state bailout. Walsh, a former pilot and industry veteran, is betting that once the coronavirus crisis is over, IAG will be better positioned than rivals which might be beholden to political masters after turning to governments to see them through. IAG, which also owns Aer Lingus, Iberia and Vueling, has reaped the..