Oh dear. Whilst I am a great fan of British Airways, this is really disappointing.
Some of the problems cited include slump in premium demand, cargo and the weakness of the sterling. There will be once again restructuring of the company.
It really is a shame. A record profit last year, a loss this year. Obviously their share price has fallen even further adding more strain to the BA-IB merger. I think BA will need to use the next upswing in the economy to diversify away from their dependence on LHR and North America. I suppose every airline is taking a hit right now, but not as bad. I believe AF-KLM expects to break even on full-year results, even after reporting a loss in their most recent quarter. I'm not up-to-date on LH's postion. This could be that just like the UK economy generally lags behind the US by 6-12 months, the Eurozone economy lags behind the UK a further 6-12 months so maybe worse times to come for European carriers. Though I think LH and AF-KLM are better prepared for downturns.
Still, lets remain optimistic! Come on BA!