30.01.10
BA is heading more than £1bn in losses during what IATA described yesterday as the worst aviation recession in history, the Times reports. The airline is expected to report deepening losses next week for the third quarter of its financial year - which includes a Christmas period hit by the threat of strikes and by bad weather.
The current financial year is expected to be the worst in BA’s history, the newspaper suggests, with losses as much as 50% greater than last year's record £401m deficit. The consensus forecast from City analysts for BA’s latest trading update, due on Friday, is that the airline will report losses of £151m for the 3 months to the end of December, taking its losses to £443m for 9 months.
BA is in the middle of its final quarter, the difficult winter months, and analysts forecast further losses. Overall, for the 12 months to the end of March, the consensus is a loss of £602m — just over more than £200m more than the record £401m reported for 2008-09. Several analysts also expect full-year losses next year (2010-11).
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