BA profits down 91.6%

Profits at British Airways (BA) have dropped by a massive 91.6 per cent during the first half of the year, according to new figures.

The airline's chief executive Willie Walsh said BA would remain focused on delivering a small operating profit in the current financial year.

He commented: "The six-month period will be remembered as one of the bleakest on record. The period was hit by a crisis in the banking sector, record fuel prices and several airlines going out of business."

Throughout the period, BA carried over 17 million passengers, a reduction of just under four per cent on last year, reports the Times.

Speculation is growing that hundreds of jobs could go as the stricken airline seeks to avoid any further loss of profits.

Learn more about investing in stocks and shares with the help of Knowledge to Action.