His comments come as British Airways announced over the weekend that cabin staff face a potential whopping 55% cut to their salaries.
A letter received by staff yesterday outlines plans to slash cabin crew salaries to £24,000, while senior crew would have to downgrade to basic level pay.
Most senior crew - customer service managers - are currently on around £35,000, while some crew leaders - customer service directors - can earn up to £80,000 per year.
Unions are said to have threatened legal action and staff are planning on striking.
Willie Walsh is chief executive at IAG, which owns British Airways
Oli Scarff/Getty Images
At the same time Sir Richard Branson is still looking for investment in order to save Virgin Atlantic.
In Europe there are signs that the airline and travel industry could restart this summer. The Italian government has passed legislation that will allow people to travel abroad from 3 June.
The government hopes the new rules will salvage the forthcoming vacation season, when Italians traditionally escape the cities for their annual summer breaks abroad or at home.