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

AMA Drone Report

Airborne-Monday

Airborne-Tuesday

Airborne-Wednesday

Airborne-Thursday

Airborne-Friday

Airborne-Unmanned w/AUVSI

Airborne On ANN

AMA 10.19.17

Airborne 10.16.17

Airborne 10.17.17

Airborne 10.18.17

Airborne 10.19.17

Airborne 10.20.17

Airborne-Unmanned 10.17.17

Airborne-YouTube

AMA 10.19.17

Airborne 10.16.17

Airborne 10.17.17

Airborne 10.18.17

Airborne 10.19.17

Airborne 10.20.17

Airborne-Unmanned 10.17.17

NEW!!! 2017 AirVenture Innovation Preview -- YouTube Presentation / Vimeo Presentation

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

RFP: ANN Seeking New Site/Facility For Major Studio Upgrade

It's Official: Aggressive Upgrades For New Airborne Programs WILL Require New Digs It's been in development for years, but we're getting to a point where we think we can pull off s>[...]

Airborne-Unmanned 10.17.17: Eagles v Drones, DJI AeroScope, Drone Policy

Also: AeroVironment Award, Washington State Patrol, Altavian Nova UAS, Robotaxis The French Military is training four Golden Eagles to attack drones in flight as a way to defend ag>[...]

Airborne 10.19.17: 200th TBM 900-Series, MooneyShares, E-AB Accident Stats

Also: Supersonic Test, Kobe Steel, Sullenberger Awarded, A-29 Super Tucanos, Textron, 109th AW CDR Daher recently rolled out its 200th TBM 900-series very fast turboprop aircraft s>[...]

Airborne 10.19.17: 200th TBM 900-Series, MooneyShares, E-AB Accident Stats

Also: Supersonic Test, Kobe Steel, Sullenberger Awarded, A-29 Super Tucanos, Textron, 109th AW CDR Daher recently rolled out its 200th TBM 900-series very fast turboprop aircraft s>[...]

Airborne 10.18.17: Airbus C Series Deal, Red Bull!, Drone v Airline

Also: Glasair 2 And 3 Sold, Send Solutions, Blue Angels, SSBJ, D8 Airliner, Stage 5 Aircraft, Global Supertanker Airbus SE and Bombardier are to become partners on the C Series air>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2017 Web Development & Design by Pauli Systems, LC