BA Racks Up Record Losses Of $765 Million | 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 04.27.17

Airborne
04.24.17

Airborne
04.25.17

Airborne
04.26.17

Airborne
04.27.17

Airborne
04.28.17

Airborne-Unmanned 04.25.17

Airborne-YouTube

AMA 04.27.17

Airborne
04.24.17

Airborne
04.25.17

Airborne
04.26.17

Airborne
04.27.17

Airborne
04.28.17

Airborne-Unmanned 04.25.17

Sat, May 22, 2010

BA Racks Up Record Losses Of $765 Million

Airline Still Says It Hopes To Break Even This Year

Struggling British Airways' financial woes are showing little sign of easing, as the carrier posted a record pre-tax loss of $765 million over the past 12 months.

"This is our second consecutive year of record losses but we take heart from the fact that, while our revenue has fallen by one billion pounds, so have our costs," BA Chairman Martin Broughton said in a statement Friday. Broughton said that, while revenue has fallen by $1.4 billion, the airline has managed to reduce costs as well, and that he expects that it would break even this year.

The international news service AFP reports that the airline had been expected to lose $867 million this year, so the carrier was performing better than had been anticipated. It has been slashing costs, and has recently announced a merger with Spanish airline Iberia in an effort to stem the red ink. The merger is expected to be finalized later this year.

The airline has also cut about 9.4 percent of its total workforce, or 3,800 jobs during the current fiscal year, and some 6,000 positions overall.

The airline is facing labor actions on the part of cabin crews next week, which could add to its difficulties. British courts upheld the Unite, The Union's right to stage a labor action Thursday.

Like most airlines operating in Europe, BA was hurt by flight cancellations due to the ash cloud caused by the eruption of Iceland's Eyjafjoell volcano. However, the European Commission agreed that national governments can compensate airlines for losses incurred by that event.

FMI: www.ba.com

Advertisement

More News

AMA Drone Report 04.27.17: Kitty Hawk Flyer, College Drones, DJI VR Goggles

Also: Airborne at XPONENTIAL, AMA On Mil-Airspace, Canadian Drones, AMA Legislative Efforts With an appearance not all that different than many of the multi-copters we’re all>[...]

AUVSI and Aero-News Announce Live Webcast Schedules for XPONENTIAL 2017

The World's Greatest Gathering Of 'All Things Unmanned' Will Get Expert Live Coverage! The Association for Unmanned Vehicle Systems International (AUVSI) and their "Airborne-Unmann>[...]

Airborne-Unmanned 04.25.17: UAS Broadcast, College Drone Racing, XPO17 LIVE!

Also: Aeryon Labs, Northrop Grumman, XTAR Connectivity, Bowling Green Drones The broadcast platforms of tomorrow may well be unmanned... and 360 Designs has just introduced the Fly>[...]

Airborne 04.27.17: HondaJet Records, More UAL Fallout, Avenger Gathering

Also: Peggy Whitson!, AUVSI 2017 Live, Air Medical Group, Canadian Airports, GLO Bankrupt, WestJet, Second T-X A HondaJet has officially secured its first speed records over two re>[...]

Airborne 04.28.17: Perlan Mission II, DJI VR Goggles, Pilot... NOT!

Also: American Airlines, Airborne-NextGen, Biofuel, ATR 72-600, Gogo, Drone Drive, L3 Aviation Airbus Perlan Mission II, an initiative to fly a glider to the edge of space to colle>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

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