Airline hit by weak economy
British Airways reported a pre-tax loss of £70m for the nine months up to the end December 2008.
It compares with an £816m pre-tax profit for the same period in 2007.
The UK national carrier said its operating profit for the period fell by 88% from £744m in 2007 to £89m last year.
Revenue during the nine period rose by 6.2% from £6,634m to £7,046m but fuel costs also shot up by 48.4% to £2,244m.
The airline also reported that its premium traffic dropped by 13.7% in January as business travellers switched to economy. BA said its non-premium traffic rose by 1.4% during the month.
Willie Walsh, BA's ceo, said the results had been hit by "further economic weakness and the fall in sterling."
He said the carrier's costs for the nine months were up by more than £1bn because of the impact of high fuel costs and the weak exchange rate.
He added: "We have already taken several actions to offset the unprecedented economic conditions.
"We have increased our sales activity in markets with stronger foreign currencies to benefit from exchange and continue to offer competitive fares in both premium and non-premium cabins.
"We continue to review every aspect of the business to control costs while at the same time improving the customer experience and operation."
BA said the industry was facing "very difficult trading conditions on the back of a weak economic environment."
It said fuel costs for the year would be £3bn while non-fuel costs were expected to rise by 8% rather than the previously predicted 5%.
It said it expected a £150m operating loss for the year as previously indicated.
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