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British Airways loses 49 million pounds in 1H

British Airways loses 49 million pounds in 1H

British Airways PLC on Friday reported a first-half loss of 49 million pounds ($77 million), as chief executive Willie Walsh said record high oil prices and a global economic slowdown meant the period would "be remembered as one of the bleakest on record."
The net loss for six months through Sept. 30 compared to a profit of 493 million pounds a year earlier.
Revenue rose 6.4 percent to 4.75 billion pounds ($7.4 billion), Europe's third largest airline said.
But the rise in revenue was more than canceled out by the cost of oil, which hit a record high in July, and the growing number of empty seats on flights. Load factor _ a key measure of seats filled _ fell nearly 5 percent over the six months to 74.6 percent.


Updated : 2021-10-18 16:04 GMT+08:00