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06/11/2001
BA announce first profit loss since privatisation
British Airways has announced profits of only £5 million for the second quarter of the financial year, representing a drop of 98 per cent on the figure for the same period last year.
The news follows only a day after the airline revealed a 25 per cent fall in traffic for the month of October, prompting speculation about the financial future of the company, currently Europe's largest airline.
While the dramatic fall in both figures can be attributed in part to the events of 11 September, the airline was already experiencing overcapacity in the run-up to the terrorist attacks, with over 7,000 jobs lost this year.
In addition, the forecast for the future could see BA's fortunes worsening to the tune of losses in the region of £750m by the end of the second quarter, and BA chairman Lord Marshall has acknowledged that they “anticipate a significant operating loss for the year".
The developments have prompted predictions that BA could be relegated from the FTSE index amid fears of continued poor economic performance from the airline. It is also thought likely that the company could be about to implement further job cuts. (CL)
The news follows only a day after the airline revealed a 25 per cent fall in traffic for the month of October, prompting speculation about the financial future of the company, currently Europe's largest airline.
While the dramatic fall in both figures can be attributed in part to the events of 11 September, the airline was already experiencing overcapacity in the run-up to the terrorist attacks, with over 7,000 jobs lost this year.
In addition, the forecast for the future could see BA's fortunes worsening to the tune of losses in the region of £750m by the end of the second quarter, and BA chairman Lord Marshall has acknowledged that they “anticipate a significant operating loss for the year".
The developments have prompted predictions that BA could be relegated from the FTSE index amid fears of continued poor economic performance from the airline. It is also thought likely that the company could be about to implement further job cuts. (CL)
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06 August 2001
British Airways perform to expectations
British Airways have announced a pre-tax profit of £40 million compared to a loss of £50 million in the same quarter last year, for the three months to June. The upsurge in profits was boosted by the £100 million profit British Airways made when it sold its no-frills airline Go in June this year.
British Airways perform to expectations
British Airways have announced a pre-tax profit of £40 million compared to a loss of £50 million in the same quarter last year, for the three months to June. The upsurge in profits was boosted by the £100 million profit British Airways made when it sold its no-frills airline Go in June this year.
08 March 2002
UK passenger numbers show first rise since September 11
The UK's largest airport operator BAA has revealed that passenger numbers at Britain's airports have shown their first monthly increase since September 11.
UK passenger numbers show first rise since September 11
The UK's largest airport operator BAA has revealed that passenger numbers at Britain's airports have shown their first monthly increase since September 11.
19 March 2002
Airline sector exhibits first signs of recovery in traffic
Tentative signs of recovery in the airline sector have been bolstered by British Airways’ decision to restore part of its transatlantic services. From April, BA is to reinstate its transatlantic Concorde flights during the week, which will see Heathrow-US air traffic levels back to normal after the events of September 11.
Airline sector exhibits first signs of recovery in traffic
Tentative signs of recovery in the airline sector have been bolstered by British Airways’ decision to restore part of its transatlantic services. From April, BA is to reinstate its transatlantic Concorde flights during the week, which will see Heathrow-US air traffic levels back to normal after the events of September 11.
05 November 2001
BA losses prompt doubts about future performance
British Airways has announced a 25 per cent fall in traffic in October, prompting speculation about the financial future of the company, which is currently Europe's largest airline.
BA losses prompt doubts about future performance
British Airways has announced a 25 per cent fall in traffic in October, prompting speculation about the financial future of the company, which is currently Europe's largest airline.
06 November 2009
BA Losses Lead To Job Cuts
British Airways has announced plans to cut and extra 1,200 jobs, after reporting a pre-tax loss of £292 million for the six months of the year until September 2009.
BA Losses Lead To Job Cuts
British Airways has announced plans to cut and extra 1,200 jobs, after reporting a pre-tax loss of £292 million for the six months of the year until September 2009.
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