In a doom laden email to staff, Alex Cruz, CEO of British Airways, laid out the situation the airline finds itself in.
Describing the situation as the most dangerous existential crisis in the history of the airline, he said that in effect, layoffs of the 45,000 staff and multiple aircraft groundings are inevitable, and will commence next week.
The airline has also been in talks with major banks to extend its available credit.
Over in France AF-KLM Group said that they had drawn down €1.3. billion from their rotating credit facility.
Lufthansa, Brussels and Swiss, along with AirFrance & KLM are waiting to be told what flights they can maintain to the US. American citizens and legal permanent residents are still permitted to travel, and a restricted number of flights are to be allowed.