British Airways for the six months ended 30 September posted a pre-tax loss of £292 million (US$465 million)

. The company's £111 million (US$177 million) operating loss reversed the £140 million (US$223 million) operating profit achieved during the year-earlier period. Passenger revenue declined nearly 14 percent on 3 percent less capacity. The airline noted plans for additional capacity and job cuts, and other cost-saving measures. "We will introduce further structural change in the second half to secure the long term future for our business," according to a statement attributed to chief executive Willie Walsh.