It’s tough times for airlines worldwide. Analysts expect global losses to total around $11 billion. The latest in the seemingly endless string of bad news was announced on Tuesday by British Airways, which is to cut 1,700 full-time jobs, freeze remaining cabin crew salaries for two years and sharply revise downwards packages offered to employees in future. Britain’s biggest airline lost $640 million in 2008 and is expected to make a massive loss in 2009. With fears of further cuts swirling around, coming years could prove to be grim ones for BA.
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