BRITISH Airways posted another huge loss today but gave its shares a lift after insisting it remained on course to break even this year.
The forecast from chief executive Willie Walsh, who highlighted positive trends in passenger and cargo traffic, was echoed by his counterpart at Virgin Atlantic after BA’s rival also made upbeat comments.
The wider market was in negative territory after a jittery session in New York caused by economic uncertainty weighed on Asian markets. The FTSE 100 Index fell another 22.6 points to 5291.6 after closing down on Thursday night.
Miners were impacted by the economic worries, while BP also slipped 2%, down 8.45p at 405p, at the end of a landmark week for the oil giant.
British Airways topped the risers board even though disruption from the Iceland ash cloud and cabin crew strike action caused it to report first quarter losses of £164 million. Shares rose 6.7p to 222.7p, a gain of 3%.
A clutch of utility stocks followed BA after an infrastructure fund snapped up the UK’s biggest electricity distribution network in a £5.8 billion deal.
The bigger-than-expected price tag raised hopes of renewed appetite for UK assets and meant United Utilities rose 8.5p to 569p and National Grid lifted 5.5p to 516p. Water firm Severn Trent added 16p to 1296p.
