British Airways has been through a year of record losses in 2009, work stoppages which have cut into its flight schedules, a pension fund which is billion of dollar underfunded, and a tentative merger agreement with Iberia.
All of these things would argue that BA has had its fair share of trouble even in an industry that has been rocked by the recession and high fuel price.
BA got another challenge today. A cloud of ash from a volcano in Iceland has spread far enough to shutter airports including BA’s London hub Heathrow and several other UK cities. That is after the UK and Netherlands banks lost $5.3 billion as the island nation’s sovereign debt value collapsed.
Douglas A. McIntyre
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