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Thursday 11th of February 2010

News Tag: survival

February 5, 2010

BA posts £50m loss in Q3

by Kay Murchie
”BA
British Airways (BA) has today reported a £50 million loss in the three months to December 31 2009, compared with the £122 million it lost in the same period a year earlier. However, the loss was much less than analysts’ predictions for a £151 million loss. Meanwhile, the airline posted a surprise £25 million operating profit in the three-month period, against a ...



February 2, 2010

Unite in legal battle with BA

by Kay Murchie
”Unite
The Unite union is in the High Court this week to resolve whether there should be a permanent injunction preventing British Airways (BA) from imposing cost-cutting measures. Unite previously applied for a High Court injunction to block BA’s plans, but it was unsuccessful . The airline wants 75% of its crew to accept a pay freeze this year and for 3,000 staff ...



December 16, 2009

British Airways to take legal action to prevent Christmas strike

by Kay Murchie
”British
In a bid to prevent the 12-day strike planned by cabin crew over Christmas, British Airways (BA) is to take legal action to prevent what could cause misery for millions of passengers this festive season. The Unite union has called a walkout from December 22 to January 2 in a dispute over working conditions, jobs and pay. On ...



November 6, 2009

BA announces 1,200 job cuts after record loss

by Kay Murchie
”BA
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 ...



BA posts record £292m loss for first-half

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



September 29, 2009

Camera retailer Jessops agrees rescue plan

by Kay Murchie
”Camera
Camera retailer Jessops has today secured a deal that will save the company. The struggling retailer has been hit by a shift to digital photography and the economic downturn which has meant it has been fighting to survive. The company, which trades from more than 200 stores in the UK, is undertaking a solvent restructure that will see its largest creditor HSBC, acquire ...



September 24, 2009

Struggling Japan Airlines seeks Government funding

by Kay Murchie
”Struggling
Struggling Japan Airlines (JAL) has confirmed it has asked the Government for public funds to strengthen its capital base and save it from collapse. The news comes just a week after the loss-making carrier announced plans to cut its operating schedule and reduce headcount by almost 7,000. JAL president, Haruka Nishimatsu, said he is also proposing a major restructure after meeting with ...



July 17, 2009

British Airways in £600m fundraising plan to see it through downturn

by Kay Murchie
”British
British Airways (BA), which recently admitted was fighting for its survival, has today announced plans to raise £600 million. In May, the airline reported a pre-tax loss of £401 million for the 12 months to the end of March, compared with profits of £922 million the previous year. The loss represented the biggest since the company was ...



July 13, 2009

BA pilots vote to accept 2.6% pay cut

by Kay Murchie
”BA
British Airline Pilots' Association (Balpa) has today announced that pilots of struggling airline, British Airways (BA), have voted overwhelmingly to accept a 2.6% pay cut, which will save the airline up to £26 million a year in running costs. The airline recently admitted that it was fighting for its survival but it is not alone. Many airlines continue to ...



June 18, 2009

BA union agrees pay cut for pilots in exchange for shares

by Kay Murchie
”BA
The British Airline Pilots' Association (Balpa) is supporting British Airways (BA) decision to give pilots £13 million worth of shares in exchange for a pay cut and longer working hours. The agreement comes after the airline admitted it was fighting for its survival amid the economic downturn and the new measures will save the airline £26 million ...



June 16, 2009

BA appeals to staff as it fights for survival

by Kay Murchie
”BA
British Airways (BA) has asked 40,000 members of staff to work for nothing as the airline admitted it was fighting for survival. Last month, the airline reported a pre-tax loss of £401 million for the 12 months to the end of March, compared with profits of £922 million the previous year. The loss represented the biggest since the company was ...



June 9, 2009

British Airways in strike fears as 2,000 jobs set to go

by Kay Murchie
”British
It has been reported that British Airways (BA) is offering voluntary redundancy to 2,000 flight attendants. Its 14,000 cabin crew members have been told that the equivalent of 2,000 jobs must go through voluntary redundancy and if this is not achieved, the losses could become compulsory. BA’s chief executive, Willie Walsh, said the industry is in a ...