BA boss: No sign of economic recovery

British Airways has announced the biggest loss since the company was privatised in 1987.

BA reported a loss before tax of £401m for the year to 31 March, after seeing its results hit by a weak pound and higher fuel costs. BA made a revised profit of £922m in the previous year.

Chief executive Willie Walsh said the industry was facing its harshest ever tradition conditions and could not see any signs of recovery in the next year.