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

Monday

Tuesday

Wednesday

Thursday

Friday

Airborne On ANN

Airborne 05.23.16

Airborne 05.24.16

Airborne 05.25.16

Airborne 05.26.16

Airborne 05.27.16

Airborne Hi-Def On YouTube

Airborne 05.23.16

Airborne 05.24.16

Airborne 05.25.16

Airborne 05.26.16

Airborne 05.27.16

AEA2016 LIVE Aero-TV: 04/27-0830ET, 04/28-1400ET, 04/29-1100ET

Sun 'n Fun 2016 Innovation Preview on Vimeo!

Sun 'n Fun 2016 Innovation Preview on YouTube!

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.

FMI: www.ba.com

Advertisement

More News

It's On! EAA/ANN Announce 2016 AirVenture Innovation Preview!

Stunningly Successful Innovation Program Drew Nearly 100,000 Eyeballs to ‘All Things AirVenture’ E-I-C Note: Our partner, the Experimental Aircraft Association, release>[...]

Airborne 05.26.16: Icon Flaming Out, Airbus Heli-Patent, UAV Registry

Also: TSA Dust-Up, Honor Flight, The API -- What’s This ALL About?, EASA Cert's G650ER, First E190-E2, DiCaprio BizJet, WingX Pro7, BASE Jump Tragedy Late Wednesday, Icon fin>[...]

Airborne 05.26.16: Icon Flaming Out, Airbus Heli-Patent, UAV Registry

Also: TSA Dust-Up, Honor Flight, The API -- What’s This ALL About?, EASA Cert's G650ER, First E190-E2, DiCaprio BizJet, WingX Pro7, BASE Jump Tragedy Late Wednesday, Icon fin>[...]

ANN's Daily Aero-Linx (05.27.16)

FAA Data & Research The FAA conducts research to ensure that commercial and general aviation is the safest in the world.>[...]

ANN's Daily Aero-Term (05.27.16): Resume Normal Speed

Used by ATC to advise a pilot to resume an aircraft’s normal operating speed. It is issued to terminate a speed adjustment where no published speed restrictions apply.>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

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