IGNORE: BA expects £150m loss
Sunday, 26 Jan, 2009
0
British Airways expects to make an operating loss of £150 million in the year to March.
The airline said further economic weakness in January and the outlook for February and March combined with the fall in sterling, were impacting the outlook for end of the financial year.
Results for the third quarter to December 31, 2008 are expected to show an operating loss of around £50 million which is after a £56 million non-cash charge relating to the retranslation of certain foreign currency obligations, the airline said.
Results for the third quarter to December 31, 2008 are expected to show an operating loss of around £50 million which is after a £56 million non-cash charge relating to the retranslation of certain foreign currency obligations, the airline said.
BA said costs were being impacted by foreign exchange. Non-fuel costs are now expected to rise by 8% year on year compared to its previous guidance of 5%.
Fuel cost guidance is largely unchanged at around £3 billion as the lower price of fuel is being offset by a lower fuel hedging benefit for the year and currency impacts.
Revenue guidance for the year remains unchanged as being up at least 4% year on year with yields benefiting from exchange more than offsetting volume declines. Traffic volumes remain in line with the market, BA said.
Traffic statistics for January and third quarter results will be announced on February6.
by Phil Davies
Phil Davies
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Clearing CSS/JS assets' cache... Please wait until this notice disappears...
Updating... Please wait...
TAP Air Portugal to operate 29 flights due to strike on December 11
Qatar Airways offers flexible payment options for European travellers
Airlines suspend Madagascar services following unrest and army revolt
Air Mauritius reduces frequencies to Europe and Asia for the holiday season
Major rail disruptions around and in Berlin until early 2026