BA Cuts Capacity, Delays Aircraft; Cuts CapEx »
Posted By Ther 5 months, 3 weeks ago in NewsU.K. flag carrier British Airways PLC (BAY.LN) Friday reported another month of annual declines in passenger traffic, forcing the company to reduce summer and winter capacity further, and adding it expects delays in A380 aircraft deliveries and that it plans to shed the equivalent of up to 3,700 jobs this financial year.
The retrenchment will lead to a 20% cut in BA's spending plans this year, to GBP580 million for the financial year to end-March 2010 from an original target of GBP725 million.
The airline said it will reduce capacity from April to October by 3.5%, compared with the planned 2.5%, and will cut its winter schedule by 5%, originally planned as a 4% reduction.
Read Full Story at online.wsj.com »
32 Views Share Story 0 Comments Report
