Business News

British Airways remains in the red as recession bites

Nov 6, 2009, 6:52 GMT

London - British Airways (BA) Friday reported a record half- yearly pre-tax loss of 292 million pounds (485 million dollars), indicating that the airline remains vulnerable to the recession, BA figures showed. For the whole of last year, BA made a record pre-tax loss of 401 million pounds, its biggest since privatization in 1987. BA chief executive Willie Walsh said the figures for the period up to the end of September showed that the aviation industry remained in recession. In the same period in 2008, BA made a profit of 52 million pounds. Revenue was down by almost 14 per cent between April and September of this year. Walsh said he expected revenue to be down by 1 billion pounds down for the whole year. BA has also been struggling with competition from budget airlines and is currently involved in difficult negotiations with the trade unions over cost cuts.

On the Web

Blowing Up Blogs

Place your ad here
Loading...

Your Talkback on this Story

Similar articles

LEAD: EasyJet pays dividend as business travellers boost profits
Business travellers boost easyJet annual profits
Airbus foresees "robust future" for commercial air travel
Ryanair warns of fares hike as profits surge
British Airways, unions hail new start after "peace deal"

Latest Headlines in Business

Older Talkback

Business: Index

: News; Features; Currency Conversion

Like M&C on Facebook

Custom Search

Viral Web

In Monsters and Critics

: Arts; Books; DVD; Gaming; Lifestyle; Movies; Music; News; People; Science & Nature; Sport; TV; Archives
Other Languages and Sites: Deutschland (Monsters and Critics); The Tech Herald; Free Games Herald; XPRNC; Deutschland (Der Technikbote); Deutschland (Bellalu)

Entertainment: Arts; Books; DVD; Gaming; Movies; Music; People; Soundtracks; TV
Media: Celebrity Photos; Movie Pictures; Movie Trailers; Movie Posters; Theatre Stills
Released this week: Movies - USA; Movies - UK; DVD - USA
Distractions: Online Games; Daily Crossword; Sudoku Classic; Daily Jigsaw

World News: US; UK; Americas; Europe; Middle East; Asia Pacific; South Asia; Africa; Business; Education; Health
Science and Tech: Science and Nature; Technology
Lifestyle: Autos; Fashion; Life; Travel

Corporate

: About; Advertise; Contact; The Team; Vacancies; Privacy; RSS; Site Map; Terms; Webmasters

The Fine Print

© 2003 - 2012 by Monsters and Critics.com, WotR Ltd. All Rights Reserved. All photos are copyright their respective owners and are used under license or with permission. * Note M&C cannot be held responsible for the content on other Web Sites.

Servers supplied by Servint