British Airways has blamed a doubling of fuel costs for a sharp profits fall, saying the airline industry faced the "worst trading environment ever".
The carrier made pre-tax profit of Ј37m ($73.3m) in the three months to the end of June compared with Ј298m a year earlier - an 88% drop.
It also said it was to cut 3% of flights this winter to cut overheads.
Earlier this week BA announced that it was in merger talks with Spanish airline Iberia.
'Unprecedented'
BA said its fuel bill was expected to be Ј3bn in the year to the end BA and Iberia hold merger talks ...
Qantas Airways to cut 1,500 jobs ...
Del Bosque gets Spain coach's job ...
Sudan crash airline is grounded ...
Protests against high fuel prices spread in Spain ...
Top ETA political leader arrested in French raid ... of March - the equivalent of Ј8m per day.
However it insisted it was "well prepared" , with a focus on controlling costs.
(BBC)
<< Back