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BA announces 1,200 job cuts after record loss

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by Kay Mitchell

Struggling airline British Airways (BA) today posted a record first-half pre-tax loss of £292 million for the six months to 30 September.

Following its results, the airline said it is planning 1,200 job cuts, which will take its total to almost 5,000 by the end of March.

According to BA’s chief executive, Willie Walsh, “These are very difficult times in the industry.”

“It could have been a lot worse if we had not reacted so quickly,” added Mr Walsh.

The airline admitted during the summer it was fighting to survive and has since been looking at ways to cut costs.

It is struggling to stay afloat during the global economic downturn which has led to a slump in demand. Many airlines have been forced out of business as fewer people are travelling by air.

In particular, BA has been hit by a fall in business class passengers and said revenue fell 13.7% to £4.1 billion during the six-month period.

The airline has been in long talks with unions over job cuts and a pay freeze and there is the threat of strike action over the Christmas period.

Shares in the airline today gained 6.2% to 197.8p as the market digested the news of the further job cuts and measures to slash costs.

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News posted: November 6, 2009

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