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.

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.

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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.