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From The Associated Press, November 6, 2009 - 03:04 AM

British Airways posts H1 loss of $346 million as revenues slide 13.7 pct

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LONDON (AP) - British Airways PLC on Friday reported a net loss of 208 million pounds ($346 million) for the six months ending in September as revenue fell by 13.7 percent.

The company's pretax loss of 292 million pounds was worse than the consensus of analysts' expectations for a 252 million pound loss.

The first-half net loss compared with a loss of 42 million pounds a year earlier, while the pretax loss more than reversed a profit of 52 million pounds a year ago.

BA said revenue fell to 4.1 billion pounds from 4.75 billion pounds a year earlier.

However, the company said it benefited from a 17.8 percent drop in fuel costs compared to last year — as a result operating costs were 8.7 percent lower.

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