News

British Airways PLC has reported a net loss of 208 million pounds (US$346 million) for the six months ending in September, its first-ever loss in the period, as revenue fell by 13.7 percent.

The company''s pre-tax loss of 292 million pounds was worse than the consensus of analysts'' expectations for a 252 million pound loss.

The first-half net loss compared with a loss of 42 million pounds a year earlier, while the pre-tax loss more than reversed a profit of 52 million pounds a year ago.

BA said revenue fell to 4.1 billion pounds from 4.75 billion pounds a year earlier.

British Airways shares were up 3 percent at 192 pence in early trading Friday on the London Stock Exchange.

Chief Executive Willie Walsh said BA intended to cut the equivalent of 3,000 jobs by March and reduce winter capacity by 6 percent.