Francis Ogwo
British Airways has announced that it is retiring all fleets of Boeing 747 jets even as it disclosed that the downturns of the coronavirus pandemic is responsible for their decision.
International Consolidated Airlines Group, owners of the airline, made this disclosure today while stressing that the decision on the ‘jumbo jet’ would have come later in 2024 but the travel restrictions influenced the action.
“It is with great sadness that we can confirm we are proposing to retire our entire 747 fleet with immediate effect,” the airline said in an emailed statement to CNBC.
“It is unlikely our magnificent ‘queen of the skies’ will ever operate commercial services for British Airways again due to the downturn in travel caused by the Covid-19 global pandemic.”
The release further stated the Airlines decision to deploy “modern, fuel-efficient aircraft” including the Airbus A350 and the Boeing 787 to the runways.
Recall that British Airways debuted the jet back in the early 1970s, and took delivery of its current fleet of 747-400s between 1989 and 1999. At its height, the airline had 57 of the 747s, only surpassed by Japan Airlines, and the planes now reportedly represent approximately 10% of its total fleet. It currently owns 31 of the four-engine craft, with an average age of 23 years.
BA’s decision is coming after another airline; Qantas Airways, announced in June that it was retiring its six Boeing 747 planes immediately, six months before initially planned.
The huge jets are 231 feet long and have a wingspan of 213 feet — big enough to accommodate 50 parked cars. They were originally designed to hold 27 first class and 292 economy class passengers and featured a lounge in the upper deck called the “club in the sky,” but now have three different seating layouts.
BA recently warned that 12,000 jobs were at risk due to the pandemic and the resulting hit to air travel. IAG’s stock is down 65% so far this year.
There was a forecast by the International Air Transport Association forecast last month that airlines were on track to lose $84 billion this year, and another $15 billion in 2021.
In April, air travel fell more than 90% from the previous year, according to IATA, in what it expects to be the worst year in the industry’s history.
Experts say the action by British Airways is one of the fallouts of the negative impact of the coronavirus pandemic, which has crippled global aviation with its travel restrictions.
