Record Loss In British Airways

The biggest British Airline “British Airways” last year had a record loss of 400 million pounds, it is announced today in London. The main reasons for the loss are high prices of airplane fuel and weak standing of the British Pound. This is the biggest loss of this company since 1987 what it was privatized.

For now there are no signs for recuperation of the economy in all sectors which is a sign for another hard year. Company's fuel expenses are increased by 44,5% while the downfall of the British pound towards American Dollar, further made the situation difficult since its supplies of fuel are purchased in Dollars.

As a measure for sanction of the situation British Airways cut 2500 jobs and now is planning salary reduce.

The loss is bigger that it was predicted by the Company's Management.

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By: Branko

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