Total revenue was up 2.8 percent over the period, but weaker consumer confidence meant that planes over the quarter traveled 73.4 percent full -- a 3.4 percent drop from the same period last year.
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British Airways Profit Tumbled Due to High Fuel Cost
British Airways reported a huge fall in its first quarter earnings on Friday due to soaring oil prices
British Airways reported a huge fall in its first quarter earnings on Friday due to soaring oil prices and a global economic slowdown, the company's CEO Willie Walsh said.
In a trading update, BA said that its pretax profit in the three months to June 30 was 37 million pounds ($73 million) -- an 88 percent plunge from the 298 million pounds it earned in the same period a year ago.
Total revenue was up 2.8 percent over the period, but weaker consumer confidence meant that planes over the quarter traveled 73.4 percent full -- a 3.4 percent drop from the same period last year.
Total revenue was up 2.8 percent over the period, but weaker consumer confidence meant that planes over the quarter traveled 73.4 percent full -- a 3.4 percent drop from the same period last year.
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