BRITISH Airways has reported a record annual loss of £531m.
Lower passenger numbers and the impact of strike action contributed to the bleak figures.
The results – the worst since BA was privatized in 1987 – were issued as BA faces 15 more days of strike action by cabin crew after the High Court overturned a strike ban.
However, the loss, for in the 12 months to March, was not as bad as the £600m predicted by some analysts.
Revenues at the airline were down £1bn on last year but the carrier cut costs by nearly £990m.
It is estimated that cabin crew strikes in March cost the carrier £43m.
The disruption caused by volcanic ash from Iceland is also likely to have added to BA's losses, though this is not counted in these latest results
Chief executive Willie Walsh said: "Returning the business to profitability requires permanent change across the company and it's disappointing that our cabin crew union fails to recognise that."