British Airways has reported a record £401 million (US$640 million) pre-tax loss in the fiscal year 2008 ending 31 March on the back of last year’s record high fuel prices and slumping demand later in the year as the global economy stalled. BA full-year revenue was up 2.7 per cent, but fell 8 per cent in the fourth quarter, the first decline since 2007. The carriers’ cargo division, BA World Cargo reported commercial revenue (flown revenue plus fuel surcharges) of … [Read more...] about BA posts record losses