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30 Jul, 2010 - British Airways £164m
loss
British
Airways £164m loss
British Airways has revealed a steep loss for the April-to-June
quarter after being hit by cabin crew strikes and disruption caused
by the volcanic ash cloud.
BA reported a pre-tax loss of £164m, larger than the
£148m loss it made in the same period last year.
BA said the impact of all disruptions was in line with previous
estimates, of £250m in the quarter.
But it said total costs for the quarter were down 3.3% on a year
ago. British Airways current pension deficit is estimated to
be £3.7 billion.
BA is attempting to negotiate with the trade unions ways of
reducing the pension deficit.
Ex BA staff working abroad may wish to consider transferring to a
QROPS as a way of securing their pensions. Go to www.devere-Group-QROPS.com
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