BA Shares Soaring Despite $133m Half-year loss

[Mike W]

http://www.nzherald.co.nz/business/n...ectid=10542053

4:00AM Monday Nov 10, 2008

British Airways reported a first-half net loss of £49 million ($133 million) as record high oil prices and a global economic slowdown hit the airline's bottom line.

But the company's shares soared 15 per cent at the end of last week after the company raised its annual revenue forecast, announced cost cutting measures and predicted a lower 2009 fuel bill.

The net loss compared with a profit of $493 million a year earlier, Europe's third largest airline said.

But chief executive Willie Walsh said the dire economic environment which had led to the first half loss was in the past. "The six month period will be remembered as one of the bleakest on record," he said.

Almost as bleak as the day you got the job Willie

Continues