British Airways on track to meet savings targets

Airline Industry Information, July 21, 2004

AIRLINE INDUSTRY INFORMATION-(C)1997-2004 M2 COMMUNICATIONS LTD

British Airways has said that it was past the worst but will still look to cut costs as it pulls out of the most difficult period in its history.

Speaking at the airline's AGM in London the UK-based carrier's chief executive Rod Eddington said that the airline had met all its restructuring targets and that its two-year plan to save GBP450m by March 2005 was on track.

The airline struggled to survive immediately after the 11 September 2001 terrorist attacks in the US. At the time the airline was losing around GBP2m a day and was left with huge debts and a low cash reserve, reports The Associated Press.

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