LONDON (ShareCast) - British Airways (LSE: BAY.L - news) reported a record loss of £292m and urged Unite to withdraw its plans for
a strike ballot and resume talks with the carrier.
Results of a planned strike ballot are expected to be announced on 14 December. Some 14,000 BA cabin crew would be free to walk out as early as 21 December, the Unite union told 3,000 BA staff at a mass meeting at Sandown racecourse earlier this week.
The loss before tax of £292m, or £244m before restructuring costs, compares with a profit of £52m last year. Revenue was down 13.7% to £4.1bn. Net losses came to £208m. Losses were tipped to hit around £200m, with revenues down to £4.1bn.
Smith & Nephew's pre-tax profit jumped 45% in the third quarter and the knee and hip joint supplier expects a good outcome for the full year.
Pre-tax profit for the three months to 26 September grew to $173m from $119m a year ago, lifting it to $495m for the nine months from $402m in 2008.
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