BA Posts More Record Losses as Strike Looms
British Airways posted another record loss for its fiscal year ending March 31, as the recession, labor strife and adverse winter weather conspired to nega

British Airways posted another record loss for its fiscal year ending March 31, as the recession, labor strife and adverse winter weather conspired to negate the some £1 billion ($1.435 billion) in cost savings the company managed to implement during the period. Losses before taxes totaled £531 million ($762 million), compared with the preceding fiscal year's record loss of £401 million ($575 million).

“This is our second consecutive year of record losses but we take heart from the fact that, while our revenue has fallen by £1 billion, so have our costs,” said British Airways chairman Martin Broughton.