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British Airways owner IAG scraps dividend as coronavirus rattles airline industry

Reuters
FILE PHOTO: A British Airways aircraft takes off from Heathrow Airport in west London

(Reuters) - British Airways owner IAG <ICAG.L> said on Thursday it would not pay a final dividend of 0.17 euros per share to shore up its liquidity as the coronavirus pandemic rattles the airline industry.

IAG also said it would propose to allocate its fiscal year 2019 profits to a voluntary reserve.

British Airways <ICAG.L> is in talks with its union about a plan to suspend around 32,000 staff, a person familiar with the situation said earlier on Thursday.

(Reporting by Samantha Machado in Bengaluru; Editing by Amy Caren Daniel)