British Airways Plc quarterly results

BRITISH AIRWAYS has had an awful three months until the end of June publishing an operating loss of £94m (2008: £35m profit) under very difficult market conditions.  The figures are much in line with the other carriers noted above.  Revenue crashed 16.8% with no visible signs of improvement.  While traffic volumes are down considerably compared to last year, they have stabilised during the quarter and show some signs of improvement for the peak summer months.  BA is vigorously cost cutting throughout the airline, aircraft are being delayed and a voluntary redundancy programme pursued.  Catering is being cut back, see below.  Capital expenditure will be reduced by 20% this year, from £725m to £580m.  No mention in Willie Walsh’s quarterly revue of the London City – New York service which will compete with the airline's own Heathrow operation, or the well developed upgrade of First. www.ba.com

Index/Home page
 

OUR READERS' FINEST WORDS (All times and dates are GMT)

All comments are filtered to exclude any excesses but the Editor does not have to agree with what is being said. 100 words maximum