The accounts of British Airways biting nose
Hard times for airlines. The British Airways announced Friday a loss of 271 million pounds in the first half of its fiscal year end in September shifted. Compared with 49 million loss in the first half of 2008, this figure has more than quadrupled.
The CEO of the company, Willie Walsh, said that the entire airline industry "remained in recession", citing estimates from IATA, the global association of air, which anticipates a total loss of 11 billion dollars in the sector this year.
The group said in the same time it would accelerate its cost-saving measures and increasing its job cuts. "With a turnover that might reduce one billion pounds this year, we can not stand idly by and further cost reductions are essential," said Willie Walsh.3,000 jobs would be affected by March 2010 by the deletions.
Following these publications, the action of the group rose 6% to 198 pence at about 11:00 am
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