Ba huge losses warning
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Travel news advice: The UK’s flagship carrier British Airways, has reported losses of £70 million for the nine months to December and anticipates a loss of £150 million over the full year to April, despite remaining in profit on its operations.
The carrier’s nine-month operating profit of £89 million was £655 million down on a year ago, when BA ended the year with record figures. Its overall loss of £70 million compared with a profit of £816 million over the same period in 2007.
BA chief executive Willie Walsh blamed the deteriorating economy and fall in sterling for the poor results.
The carrier issued a profits warning in January and is in renewed talks with unions on cost cutting.
Walsh said: “We continue to review every aspect of the business. We have opened discussions with the unions about pay and productivity which is required to improve financial performance
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Thursday, March 11 2010 03:54 am
