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Article: BA suffers worst summer and slides Pounds 292m into the red
- Article from:
- The Evening Standard (London, England)
- Article date:
- November 6, 2009
- Author:
CopyrightCopyright 2009 Evening Standard - London. Provided by ProQuest LLC. (Hide copyright information)
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BRITISH AIRWAYS has slumped to its first summer loss and warned
there is no sign of an end to the recession.
The carrier fell Pounds 292 million into the red in the six peak
months to the end of September, when it usually expects to make huge
profits.
"This is not just a British Airways problem it is a problem for
the whole airline industry," said chief executive Willie Walsh as he
revealed that revenues fell 13 per cent.
Previously its worst performance in the first half of the
financial year was a profit of Pounds 45 million in 2001/02 in the
aftermath of 9/11 and in 2007 it made a Pounds 616 million profit.
The firm is now heading into a winter of deep discontent as it
plans to slash ...