London — IAG will slash the workforce at its flagship British Airways (BA) by almost 30% in a painful restructuring aimed at shrinking the airline group to make it through a downturn that could last for years.

As many as 12,000 jobs will be lost at BA, the former state-owned airline that now leads a stable that includes Spanish flag carrier Iberia, Ireland’s Aer Lingus and discount brands Vueling and Level, according to a statement late on Tuesday...

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