BA shares hit as Heathrow chaos drags on

first_imgMonday 20 December 2010 9:11 pm Show Comments ▼ SHARES in British Airways plummeted yesterday thanks to the major disruption to its flights from Heathrow. The firm, which is Heathrow’s biggest operator, cancelled 70 of its 130 flights out of the airport yesterday, leaving thousands stranded.BA is currently losing up to £10m a day, according to analyst estimates – close to the losses suffered when all flights were grounded during the Icelandic volcanic eruption in April. “We have BA down to deliver revenues of around £27m a day in this quarter so assuming some 70 per cent of that is fixed cost it is probably losing about £8m a day of profit,” said Davy Stockbrokers analyst Stephen Furlong, adding that the majority of BA’s profit comes from its Heathrow operations.“It depends on the percentage of longhaul flights BA have operated but I think they are probably losing around £10m a day,” said Oddo Securities analyst Yan Derocles.A spokesperson for the airline said it was too early to calculate the costs. “Our priority is to fly as many customers as we can before Christmas,” he said. Tags: NULL whatsapp BA shares hit as Heathrow chaos drags on center_img Share Transport secretary Philip Hammond told Parliament yesterday that the late night flying rules would be relaxed to ease congestion.Eurostar is also expected to be hit hard by the weather. Thousands of passengers queued outside St Pancras station yesterday to get a train to Europe after cancellations at the weekend.BA shares closed down 1.85 per cent at 265.2p yesterday. whatsapp KCS-content More From Our Partners UK teen died on school trip after teachers allegedly refused her pleasnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comPuffer fish snaps a selfie with lucky divernypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comlast_img

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