British Airways posts H1 loss of $346 million
British Airways PLC reported a net loss of 208 million pounds ($346 million) for the six months ending in September as revenue fell by 13.7 per cent.india Updated: Nov 06, 2009 14:27 IST
British Airways PLC on Friday reported a net loss of 208 million pounds ($346 million) for the six months ending in September as revenue fell by 13.7 per cent.
The company's pretax loss of 292 million pounds was worse than the consensus of analysts' expectations for a 252 million pound loss.
The first-half net loss compared with a loss of 42 million pounds a year earlier, while the pretax loss more than reversed a profit of 52 million pounds a year ago.
BA said revenue fell to 4.1 billion pounds from 4.75 billion pounds a year earlier.
However, the company said it benefited from a 17.8 per cent drop in fuel costs compared to last year, as a result operating costs were 8.7 percent lower.