Jump to content
House Price Crash Forum
Sign in to follow this  
Ash4781

British Airways Slumps To Record Loss

Recommended Posts

http://uk.reuters.com/article/businessNews...E54L1AU20090522

]

LONDON (Reuters) - British Airways slumped to a record loss and nearly doubled its debt pile during the year to end March, and said the tough conditions made it impossible to give any guidance for the current period.The company posted operating losses of 220 million pounds on Friday, compared to a profit of 875 million in 2007/08. It had earlier forecast a loss of 150 million pounds, not including restructuring costs of around 80 million."The revenue outlook continues to be weak during the current financial year ... In light of this, the board is unable to recommend a dividend this year," Chairman Martin Broughton said in a statement.BA said it would continue cost cutting, while capacity for next winter will be down 4 percent.The carrier's debt rose to 2.4 billion pounds, from 1.3 billion the previous year, while its cash position slid 483 million pounds to just under 1.4 billion pounds.(Reporting by John Bowker, Editing by Matt Scuffham)

i've not read the accounts yet to see other numbers

Share this post


Link to post
Share on other sites

I bought there shares for 140 late last year and sold eventually for a small loss (135 or something). Their pension deficit is staggering. I realise you need to buy at the lowest point in the cycle to get the best performance on your shares, but there liabilities give them a competitive disadvantage going forward I feel.

Share this post


Link to post
Share on other sites
A third of income went on fuel.

Chirpy guy on BBC said that they expect fuel costs to come down so it would be better failed to mention that less people will be flying....

Tell you what though its still nowhere near as cheap as it used to be. Paid 52 eurocents a litre the other day, used to be around 30....

Oh, I typically burn 12,000 litres an hour once we are sat in the cruise. And yes, thats 12 with 3 zeros PER HOUR. :blink:

Share this post


Link to post
Share on other sites
I bought there shares for 140 late last year and sold eventually for a small loss (135 or something). Their pension deficit is staggering. I realise you need to buy at the lowest point in the cycle to get the best performance on your shares, but there liabilities give them a competitive disadvantage going forward I feel.

Word on the street from guys in the job is, the once-100% secure jobs of yesteryear are now gone...

Lots are taking voluntary redundancy, with MASSIVE payoffs... I wonder how much of this cost is directly attributable to renumeration packages?

Ah well, still an important part of the business cycle. We cant expect business to boom every year.

Share this post


Link to post
Share on other sites

Wee willie was on BBC radio 4 this morning sounding bearier than a wood full of bears looking to urinate. He said something like he see's no real recovery anytime soon.

Perhaps now when I ask for an upgrade with my silver membership they will be a little politer.

Share this post


Link to post
Share on other sites
Wee willie was on BBC radio 4 this morning sounding bearier than a wood full of bears looking to urinate. He said something like he see's no real recovery anytime soon.

Perhaps now when I ask for an upgrade with my silver membership they will be a little politer.

He shouldn't get down about it. Look for the opportunities, one way tickets and cargo should be a growth area. Return trips can bring back wheelbarrows.

Share this post


Link to post
Share on other sites
Tell you what though its still nowhere near as cheap as it used to be. Paid 52 eurocents a litre the other day, used to be around 30....

Oh, I typically burn 12,000 litres an hour once we are sat in the cruise. And yes, thats 12 with 3 zeros PER HOUR. :blink:

So, better than a Range Rover Sport, then?

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   295 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.