IAG negotiating delays to aircraft orders, not planning to renew certain leasing contracts: CEO

IAG CEO Willie Walsh reported negotiations with Airbus and Boeing are ongoing over delaying the delivery of upcoming orders due to the coronavirus outbreak and subsequent declines in travel demand (El Economista, 04-Apr-2020). Mr Walsh reportedly said negotiations are "very constructive" and the company is hopeful it can gain additional flexibility in its aircraft contracts. He also reported the group plans to not renew certain leasing contracts in 2020 and 2021. Mr Walsh pointed out that a large number of short and medium haul contracts expire in 2020 and 2021, giving the company "great flexibility" in reacting to shrinking demand.