BA profits plummet, AA merger eyed
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British Airways (BA) has announced a drop in pre-tax profits of 88% for the three months to June, The Times has reported. BA Chief Executive Willie Walsh put the losses down to “the worst trading environment the industry has ever faced”, adding that jet fuel price hikes have pushed costs up 49% to GBP706 million (US$1.4 billion) for the three month period.
“We expect our fuel bill to top GBP3 billion this year – the equivalent of more than
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