There have been turbulent skies for British Airways for FY 2008/2009 as it was forced to post its biggest annual loss since the airline was privatized in 1987. The company reported a loss before tax of GBP401M for the year ended March 31, vs. a profit of GBP922M (yoy) as fuel prices jumped 44.5% on 2008′s soaring oil prices. The weaker British pound also impacted the results. British Airways shares declined 3.75% to close at GBX156.70 yesterday on the London Stock Exchange.
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