British Airways Chairman, Martin Broughton, stated the carrier expects to report a “bigger loss” in the 12 months ending 31-Mar-2010 than it did in the previous corresponding period (Bloomberg, 25-Jan-2010). The airline reported a GBP375 million loss in FY2009.
British Airways expects to report a “bigger loss” in FY2010 than FY2009
You may also be interested in the following articles...
Iberia: capacity stabilises. IAG focuses growth on Level, its new long haul LCC
Iberia's 'Plan de Futuro' restructuring restored its profitability in 2014 and it achieved its third straight positive operating result in 2016. Its owner, IAG, rewarded it with a return to capacity growth after years of cuts and new aircraft orders. Iberia's improved returns, and a drop in performance by sister airline Vueling, lifted it from the bottom of the IAG pack in 2016.
Nevertheless, Iberia is still not earning its cost of capital and is some way short of IAG's even higher target return. Iberia's capacity growth is slowing, as it concentrates more on load factor gains in a market characterised by overcapacity. Seat numbers are levelling off in its key long haul market of Latin America, although there is some growth in North America and the 2016 launches of Shanghai and Tokyo routes will feed through to growth in NE Asia this year. In Europe, Iberia is also maintaining flat capacity in the face of rapid LCC expansion.
The second phase of 'Plan de Futuro' targets further margin expansion, but Iberia may have a bigger challenge taking the next step upwards than it did to restore profits. Meanwhile, IAG's growth focus has shifted to its new long haul low cost operator Level.
London-Singapore becomes world's longest LCC route as Norwegian enters: Long haul low cost, Part 1
European LCC group Norwegian is to launch service from London Gatwick to Singapore on 28-Sep-2017. London-Singapore will become the longest route in Norwegian’s network – and the longest route by any LCC globally.
London-Singapore is a large market but is currently only served nonstop in both directions by Singapore Airlines (SIA) and British Airways. Norwegian should be able to stimulate new demand and attract passengers who are now flying on competitively priced one stop products.
There will also be opportunities to carry passengers beyond London and Singapore. However, Norwegian will need to rely mainly on end to end traffic.