British Airways parent bets on cost cuts, not government, to survive coronavirus crisis

LONDON (Reuters) - IAG's move to axe up to 12,000 jobs at its main British Airways business reflects boss Willie Walsh's preference to slash costs rather than seek a state bailout to survive what is expected to be the worst downturn in aviation history.The veteran executive is betting that once the coronavirus crisis is over, IAG will be in a better position to thrive than rivals that might be beholden to politicians. History is on his side, as IAG has reaped the rewards of past cost cutting..