1-Oct-2009 1:21 PM

British Airways no longer in a “fight for survival”

British Airways CEO, Willie Walsh, stated the carrier is no longer in a “fight for survival”, but it does not expect a rapid recovery (The Times, 01-Oct-09). The carrier has raised GBP680 million in capital and cut costs since Jun-2009.

British Airways: “I think we have done what needed to be done to address the immediate crisis we faced. Strengthening our cash position was a critical issue and we are taking the right steps to profitability. The situation is no longer as critical,” Willie Walsh, CEO. Source: The Times, 01-Oct-09.