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Article: BA dives towards GBP 150m full-year loss as costs soar
- Article from:
- The Scotsman
- Article date:
- January 27, 2009
- Author:
CopyrightCopyright 2009 The Scotsman. Provided by ProQuest LLC. (Hide copyright information)
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BRITISH Airways is set to report a full-year loss of GBP 150
million after being hit by unexpectedly high costs, the company
disclosed yesterday.
The guidance came less than two months after the company told the
markets it expected to record a small operating profit when its
annual results are published in May.
BA shares slumped 8.5 per cent in the last hour and a half of
trading yesterday after the company made the afternoon announcement.
They finished down 12.4p at 133.8p.
BA, which is in merger talks with Spain's Iberia, blamed the
impact of currency movements for an 8 per cent year-on-year rise in
non-fuel costs, compared with previous guidance of 5 per cent.
The airline now expects ...