British Airways has reported a £292m pre-tax loss for the last 6 months.
The chief exec of BA says that revenue was down 13.7% in the last 6 months and next year it is likely to be £1bn less than last year. On top of this, they are facing more strikes from staff unhappy at attempts to cut costs and introduce efficiencies that might stop BA going bankrupt. It’s like British Leyland all over again.
Still, there’s some hope of assistance from the British government – a new tax came into force on the 1st of November which will add an extra £300 onto the cost of flights for a family of four to holiday to the Carribean. The extra cost will mean less people can afford to fly and … oh dear, it’s not looking hopeful for BA is it?