British Airways announces pre-tax loss of £148m in midst of negotiations

As negotiations on pay and job cuts continue between British Airways (BA) and unions, the airline announced a pre-tax loss of £148m in the three months to the end of June, reports the BBC website.

BA had cut staff by 1,450 since the end of March through cutting back on overtime, increased part-time working and a voluntary redundancy programme.

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Revenues fell 12.2% to £1.983bn in the quarter. Passenger revenue fell 12.5%, while the worldwide decline for air freight has also hit its cargo business, where revenues were down 28.1%.

Negotiations are also continuing with unions representing cabin crew and ground staff – with the airline facing possible industrial action – though both sides currently in a cooling-off period, the report added.