Print Edition
August 2010 
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British Airways Posts A Record Loss Of £292m |
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Pauline Renaud, November 2009 |
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(06 November 2009)
British Airways has reported a loss before tax of £292m for the six months to the end of September, as business class passenger numbers continue to drop. It is the first time BA has posted a loss in the first half of its financial year, reports the BBC. For the same period a year ago, BA reported a profit of £52m. The airline also said revenues fell 13.7 percent to £4.1bn in the six months to the end of September.
“Aviation remains in recession...with revenue likely to be £1bn lower this year, we can’t stand still and further cost reduction is essential” said BA chief Willie Walsh in a statement.
“All airlines are facing the same pressure. Operational changes at British Airways are absolutely necessary to improve the performance of the business,” he told the BBC.
BA is currently in talks with unions over its job cut plans and pay freeze. On Thursday, Unite launched a legal action in the High Court in an effort to stop the imposition of new contracts for new cabin crew, explains the BBC.
BA has been impacted by the current crisis and growing competition from low-cost carriers. The airline is expected to report a pre-tax loss of £568.76m for the year to the end of March, according to Thomson Reuters estimates.
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