Willie Walsh, CEO British Airways, speaking at Dublin's Shelbourne Hotel on Monday, Feb 11, 2008.

The CEO of British Airways, Willie Walsh, today urged Irish businesses to start planning for an imminent flu pandemic.

Speaking at a breakfast briefing attended by some of Ireland’s leading CEOs, Walsh said: “The threat of a flu pandemic is very real, so it is vital that businesses put the necessary controls in place now through proper continuity planning. As with all major adverse events, this planning means they will be prepared in advance and will help them to avoid major financial losses when it does happen. British Airways (BA) have taken this threat seriously by creating a business continuity plan for pandemic influenza, and I would recommend that Irish businesses do the same.”

Walsh was keynote speaker at a breakfast briefing entitled‘The economic impact of an influenza pandemic – is your business prepared?’, which was held in the Shelbourne Hotel, Dublin, to discuss the importance of business continuity planning for adverse events. The event also heard a contribution from Dr Mary Horgan, Consultant in Infectious Diseases, Cork University Hospital, and was chaired by Economist and Broadcaster, David McWilliams.

Stressing the importance of business preparedness throughout his contribution, the British Airways Chief Executive, WillieWalsh, continued: “It goes without saying that continuity planning is an integral part of any business’s operations, regardless of its size.”

According to World Health Organisation (WHO), there is a 100% probability of a new global influenza pandemic. The WHO, the European Centre for Disease Prevention and Control, and the Health Protection Surveillance Centre in Ireland continue to monitor the situation. The WHO now believes that the pandemic risk has reached ’WHO Phase 3‘ of its 6-phase risk assessment process. At this phase, an influenza virus subtype is causing disease in humans (in this case, the avian influenza H5N1 subtype) but has yet to begin spreading efficiently and sustainably between humans (WHO Phase 4).

Dr Horgan updated briefing attendees on the current status of influenza and the need to stockpile antivirals. “The World Health Organisation has been monitoring the H5N1 strain of influenza (bird flu) for a number of years. This virus already has the ability to transfer from birds to humans, and we feel that it is only a matter of time before it or a variant can be transmitted easily from human-to-human,” Dr Horgan said. “I believe it’s important for businesses to have a pandemic preparedness plan which includes stockpiling antivirals, as these will play a key role in safeguarding the Irish population’s health during a pandemic before a vaccine is developed. Tamiflu is the antiviral of choice of the WHO. Waiting until an outbreak occurs to acquire antivirals is ill advised, as it will be impossible to stockpile after an outbreak occurs due to production and supply chain constraints.”

A new economic impact assessment, commissioned by Roche Products (Ireland) Limited, was briefly discussed at the meeting prior to its official launch. The study estimates the cost of productivity loss to employers due to the effects of pandemic influenza on the Irish working population. This assessment shows a potential loss to the economy of €2 billion during a severe influenza pandemic.

Commenting on these findings, McWilliams said: “This breakfast briefing has been very interesting, hearing the perspectives of both a businessman and a medical professional on the same issue. In particular, I was shocked to hear that an influenza pandemic in Ireland could be so severe, potentially resulting in a loss in excess of €2 billion to Irish employers. It doesn’t take an economist to tell you that such a loss would have a major impact on business and the Irish economy. I hope the information shared this morning emphasizes the importance of business continuity planning for an influenza pandemic and ultimately prevent such large-scale losses to business in Ireland.”

The new economic impact assessment was conducted from the perspective of employers in Ireland under two different scenarios – a moderate influenza pandemic and a severe pandemic. It is expected to be launched in late February/early March 2008.