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Article: British Airways incurs $482-M loss in H1.(Shipping)
- Article from:
- Manila Bulletin
- Article date:
- November 8, 2009
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LONDON, Nov. 8 (Reuters) – British Airways Plc fell to a worse than expected first-half loss and forecast annual revenue would be 1 billion pounds lower than last year, but said traffic volumes and yields had stabilized.The airline, whose alliance with American Airlines and Spain's Iberia is being scrutinized by European and US competition watchdogs, on Friday reported a pretax loss for six months to end September of 292 million pounds ($482.4 million), while revenues fell 13.7 percent to 4.1 billion.BA's pretax loss – impacted by higher debt levels, lower interest rates, a higher pension burden and restructuring costs of 48 million pounds -- compares to the ...