BA Report losses of,,,,,,,,,

401M GBP. Ouch[:0]

Yes I saw this.

Was an interesting read. They seem to be doing the correct things though, getting rid of staff in areas were there are too many, storing planes during the winter season etc.

One wonders what exactly VS's position must be.

My thoughts entirely. If BA are in such dire straits despite their hugely profitable recent history, I can't imagine what's going on at Virgin...

Hopefully Virgin are a bit more lean and adaptable than BA...

...what I think is most interesting is that all the promotions that BA have had have not worked. So maybe VS's refusal to do a 2-4-1 offer isn't that shortsighted after all...

...also interesting is that it was the last three months of the financial year that caused the most pain.

The cash reserve that was lauded 18 months ago is slowly drying up.
Lounge access, upgrades and excess baggage are netting about 30k a day at the airports and this is going a long way to keeping cash in the system.

Isn't it generous of Willie to not get paid in July - He only earns 735'000 a year so he will really feel that!

quote:Originally posted by clarkeysntfc
My thoughts entirely. If BA are in such dire straits despite their hugely profitable recent history, I can't imagine what's going on at Virgin...


Certainly in my industry Virgin has a ton more support than BA and I always advocate VS to clients over BA for two reasons - they work hard to get my support and look after my clients where as BA think they are gods gift and don't need to encourage us to support them...

I wonder if BA could soon be classed as a 'carrier in financial difficulty'?
Particularly in comparison to the Virgin results.

Perhaps a suitable investment opportunity?