Continuing the downward trend for European airlines, British Airways today reported its biggest ever annual loss. The poor results are being blamed on lower passenger numbers due to the recession, spiralling costs and the impact of strike action. The carrier lost £531m in the 12 months to March 2010, compared to £401m to the previous year. However, the city expected the loss to be much higher and shares rose on the opening of trading. British Airways faces more industrial action from cabin crew. Another 15 days of strikes are due to begin next Monday. BA’s chief executive Willie Walsh said that the company was optimistic about the future despite the huge losses. Cost savings amounted to nearly £990m with the majority of this from lower fuel costs.
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