EnglishBritish Airways Plc., the third largest airline in Europe, posted record losses for the first half of the current fiscal year, following a significant decline in passenger traffic and fares.
During the period of six months that ended in September, the company incurred net losses of 217 million GBP (360 million USD), from 49 million GBP in the corresponding period of the previous fiscal year.
Sales dropped 14 per cent in the reporting period to 4.1 billion GBP.
Chief Executive Willie Walsh has announced plans to reduce the flight capacity by 6 per cent during the cold season in order to ensure a higher occupancy rate. The British Airways management is also planning to cut another 3,000 jobs by March 2010 and hire new employees for reduced salaries, as needed, to reduce spending.
British Airways shares gained over 8 per cent this year, pushing the company"s market value to 2.25 billion GBP.
Euro
Dolar SUA
Franc elveţian
Liră sterlină
Gram de aur
