Transportation
Airline Industry Gets Ugly Again As BA Fires 3,000
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By Douglas A. McIntyre
British Airways lost $485 million for the six months that ended in September. The airline’s CEO Willie Walsh told the BBC that this has been the “most difficult year in the history of British Airways”. BA is planning to cut 3,000 more workers in an attempt to return to profitability, but the firm’s outlook for an improvement in passenger traffic is bleak.
The BA news should not be seen in isolation. After a brief period in which analysts and traders hoped for a full-scale turnaround in the global airlines industry, those sentiments have faded.
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