BA To Post Record Losses Despite Cuts | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Recent Daily Episodes

Episode Date






Airborne On ANN

Airborne 10.24.16

Airborne 10.25.16

Airborne 10.26.16

Airborne 10.20.16

Airborne 10.21.16

Airborne Hi-Def On YouTube

Airborne 10.24.16

Airborne 10.25.16

Airborne 10.26.16

Airborne 10.20.16

Airborne 10.21.16

Sun, Feb 07, 2010

BA To Post Record Losses Despite Cuts

Not Enough Savings For Current Fiscal Year

British Airways (BA) announced Friday that their cost-cutting measures will not save the airline from posting a record loss at the end of their fiscal year in March.  BA reported that their 10.5% cut in operating costs was overshadowed by a 12.9% fall in revenue during the past nine months.

The airline reported an operating of loss of $135 million, compared to a profit of $139 million a last year.  BA also reported that premium traffic volume dropped by 9.7% including 2.1% in January alone. The losses were still better than financial forecasters had predicted.

"While we are on the right track, we still expect to make record losses this year," said Chief Executive Willie Walsh. "Permanent structural change is being introduced in all areas and will return us to sustained profitability."

BA is currently facing a potential strike by cabin crew, a pension deficit, stiff competition, and fluctuating fuel costs.  As ANN reported earlier, the airline has been in a dispute with cabin crew over issues including frozen wages, job cuts and crew downsizing.  The Unite union has called for a strike and is currengly engaging BA in a court battle over new schedules for crew members.

In November BA announced their intent to merge with Spain's Iberia airline and proposed a joint venture with American Airlines.  Both of these moves are seen as having potential to increase revenues the airlines as a group.



More News

Airborne 10.25.16: The Aviation World Mourns Bob Hoover

Also: Rockwell Collins Buys B/E Aerospace, Airport Licensing, Drone Permits, Revised LODA, Aero-Calendar, Aerosonde HQ SUAS, Gogo Business Aviation, Hilf New CEO Of Vulcan, Battle >[...]

AD: Honeywell International Inc. Turboprop Engines

AD NUMBER: 2016-21-07 PRODUCT: All Honeywell International Inc. (Honeywell) TPE331-1, -2, -2UA, -3U, -3UW, -5, -5A, -5AB, -5B, -6, -6A, -10, - 10AV, -10GP, -10GT, -10P, -10R, -10T,>[...]

ANN's Daily Aero-Linx (10.26.16)

Experimental Soaring Association Formerly known as the Sailplane Homebuilders Association, the ESA is a national source for information regarding the design, building and flying of>[...]

ANN's Daily Aero-Term (10.26.16): Departure Control

A function of an approach control facility providing air traffic control service for departing IFR and, under certain conditions, VFR aircraft.>[...]

Aero-News: Quote of the Day (10.26.16)

"A new runway at Heathrow will improve connectivity in the UK itself and crucially boost our connections with the rest of the world, supporting exports, trade and job opportunities>[...]

blog comments powered by Disqus





© 2007 - 2016 Web Development & Design by Pauli Systems, LC