Fuel and sterling drags British Airways down
Friday 6th February 2009, 9:13AM GMT.
British Airways has posted pre-tax losses of £70 million for the last nine months owing to the weakness of the global economy and sterling.
The loss compares to a profit of £816 million made between April and December in 2007.
The airline, which said fuel costs were up 48.4 per cent to £2.2 billion, has already said it expects to post annual losses of about £150 million.
BA chief executive Willie Walsh said several actions had been taken to offset the unprecedented economic conditions.
“We have increased our sales activity in markets with stronger foreign currencies to benefit from exchange and continue to offer competitive fares in both premium and non-premium cabins,” he said.
“We continue to review every aspect of the business to control costs while at the same time improving the customer experience and operation.”
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