UK lenders have granted nearly 1.2 m payment holidays on credit cards and personal loans for customers struggling with the Covid-19 outbreak. Figures released by the banking lobby group UK Finance show that by the end of April payment holidays had been granted for around 700,000 credit cards and around 470,000 loans had been put on pause.
British Airways says its planning to move 14,300 cabin crew onto new contracts requiring them to work on both short haul and long haul flights. The airline also warned that staff who don’t sign up to them will be dismissed or made redundant, and that the new contracts will include a clause to temporarily layoff workers.
ROLLS-ROYCE has warned of permanent job cuts as it expects numbers of engines made this year to be at almost half the planned amount as airlines remain grounded.
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