British Airways said today its revenues fell 22 per cent in September as a result of the terrorist attacks on the US.
Figures released in a trading statement released today show that in the week of September 11th, traffic to the US was down around 60 per cent. The revenue loss for the week was £48 million sterling and operating results were impacted by some £40 million.
On September 17 BA announced a series of cost cutting measures including 5,200 redundancies and a plan to take 20 aircraft out of it flying programme.
In the seven days following the attacks, traffic was down by around 36 per cent, and subsequently recovered to be down 28 per cent in the last week of the month, BA said.
The company restated its view that liberalisation is core to the long-term success of the airline industry.
It said it is in a sound position in spite of the immediate revenue pressures, having responded quickly with a series of measures to reduce the scale of our business.