(BAY.L) British Airways PLC Buy/Sell

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(AFX UK Focus) 2009-11-06 07:23 BRIEF-British Airways posts H1 pretax loss of 292 mln stg
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LONDON, Nov 6 (Reuters) - British Airways PLC: H1 OPERATING LOSS OF &POUND;111 MILLION (2008: PROFIT OF &POUND;140 MILLION) H1 LOSS BEFORE TAX OF &POUND;292 MILLION (&POUND;244 MILLION BEFORE RESTRUCTURING COSTS) H1 REVENUE DOWN 13.7 PER CENT HAS DRIVEN DOWN UNIT COSTS BY 5.2 PER CENT REVENUE IS LIKELY TO BE &POUND;1 BILLION LOWER THIS YEAR NET DEBT AT END SEPTEMBER WAS &POUND;2,362 MILLION, A DECREASE OF &POUND;20 MILLION FROM `the end of March 2009` WILL INTRODUCE FURTHER STRUCTURAL CHANGE IN H2 TO SECURE THE LONG TERM FUTURE `for our business` PASSENGER REVENUE DOWN 13.6 PERCENT, ON CAPACITY DOWN 3.0 PER CENT. YIELDS `were down 12.2 per cent` NON OPERATING COSTS INCLUDE &POUND;100 MILLION OF PENSION COSTS AND NET FINANCE `costs of £65 million` OUR TRAFFIC VOLUMES AND YIELDS HAVE STABILISED COMPARED TO A VERY LOW BASE ((London Equities Newsroom; +44 20 7542 7717)) (For more news, please click here) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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