BA in profits freefall

British Airways today said it slumped into the red by £401m (€456m) in the year to March 31.

British Airways today announced record annual losses of £401m (€456m) after suffering a near-£3bn (€3.4bn) fuel bill in last year’s oil price bubble.

The carrier’s nosedive into the red comes after record profits the previous year and discloses the impact of the fuel hikes and dampened demand amid the recession.