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The loss for the year ending March 31 compares with a loss of 358 million pounds in the previous year. Revenue dropped 11 percent to 7.99 billion po..."
British Airways PLC has posted a record full-year net loss of 425 million pounds ($612 million) thanks to the recession, a tough winter and strikes by cabin crews in March.
Friday's earnings update from the carrier - which is currently facing 15 more days of walkouts in a bitter dispute with cabin crews over changes to pay and working conditions - is slightly better than had been feared.
The loss for the year ending March 31 compares with a loss of 358 million pounds in the previous year. Revenue dropped 11 percent to 7.99 billion pounds.
The airline says it is making progress on a cost savings program that has included cutting jobs. It has warned the Unite union that the disputed changes are necessary for the airline to survive in a post-financial crisis world.
Friday's earnings update from the carrier - which is currently facing 15 more days of walkouts in a bitter dispute with cabin crews over changes to pay and working conditions - is slightly better than had been feared.
The loss for the year ending March 31 compares with a loss of 358 million pounds in the previous year. Revenue dropped 11 percent to 7.99 billion pounds.
The airline says it is making progress on a cost savings program that has included cutting jobs. It has warned the Unite union that the disputed changes are necessary for the airline to survive in a post-financial crisis world.
