BA slumps to biggest loss in quarter of a century

[Nigelinoz]

Source:
BA slumps to biggest loss in quarter of a century - Times Online

British Airways slumped to a £401 million loss last year amid a collapse in premium-fare passenger numbers and increased fuel costs. It was its worst loss since 1982 and came after the airline made a profit of £992 million in 2007-08.
BA said that the operating environment remained so difficult that it could not predict how it would perform in the coming months. It has offered unpaid leave and part-time working to its 41,000 staff in an attempt to cut costs.
Willie Walsh, the chief executive, said that the airline had experienced its worst year and matters were not expected to improve soon. When asked whether he could see any “green shoots” of recovery in the aviation sector, he replied: “None.”

 

[JohnK]

Tough times ahead most businesses, and people, and not limited to airlines only.

So BA has made a £591 million profit in the past 2 years. Overall I feel that is a very acceptable result....

 

[cove]

Qantas has been very lucky to miss the BA merger as well as that privatisation plan from a couple of years ago.

Not being saddled with huge debts is a big plus now that the travel market has turned soft.