BA stock up on quarterly financial figures

Date: 30 July 2010, 11:55
 
British Airways shares have risen this morning after the company said revenue and costs helped boost performance, despite its pre-tax loss widening.
Alt News Text Shares in the airline have risen
 

British Airways (BA) stock has climbed during share trading this morning (July 30th), despite the firm revealing a widening year-on-year loss for the three months to June 30th.

The company said its pre-tax loss for the period totalled £164 million - up from the £148 million recorded during the same period in 2009.

However, its shares were up 2.87 per cent to 222.2p on the FTSE 100 by 08:32 BST.

Stock brokers reacted positively to news the airline saw improved performance from revenue and costs and chief executive of BA Willie Walsh said this helped offset the damage caused by the closure of UK airspace following the Icelandic volcano eruption earlier in the year.

"Our focus must remain on cost control as we grow and continue our quest for permanent structural change across the business," he stated, adding disruption from the ash cloud was in line with previous estimates at around £250 million.

Posted by Gareth Mann
 
 
 

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