British Airways has posted poor quarterly results and the worst so far since its privatization in 1987. There are no signs of recovery in the airlines sector and it’s the common scenario that is shared by other major airline company as well. The profit making British Airways reported an operating loss of $ 348 millions. This is a huge slump in comparison to the last year’s profit of $ 1.4 billion.

The chief Executive of British Airways, Willie Walsh has expressed his concern and claims that in his career for 30 years in this industry, this recession is probably the worst ever and the biggest crisis.

The air traffic in total fell by 3.4 percent. British Airways traffic itself fell by 4.3 percent. Passengers have been opting for airlines that offer them cheap fares. Hence, British Airways too would follow the strategy to gain market share as it would be a sustainable option for the long run. The company plans to reduce the capacity and park 16 aircrafts. Even in these tough times, British Airways still plans to go ahead with its merger with the Spanish airline Iberia.

Via: CNN