BA losses increase
05 / 04 / 2009
BRITISH Airways (BA) is increasing its previously expected operating loss for the year ending March, mainly due to job cuts.
BA’s previous estimate was £150 million (US$222 million) but that amount is now due to increase to £225 million ($302 million) because of £75 million of severance pay. In October last year, 450 managers left voluntarily but now an addition 300 will leave by the end of May
This is combined with BA’s 13th month of declining traffic, which saw March’s cargo down 10 per cent from last year.