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British Airways, Back From The Brink
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A billion dollars in accumulated operating deficits is an almost terminal burden for any business. For For an airline, living In a world of traditionally low yield, It can be fatal. That the world’s biggest airline, British Airways, suffered this precise situation through the early eighties makes sits phenomenal turnaround of the past eighteen months all the more exceptional.
The trials and tribulations of BA from 1981 through 1983 are well documented and were by no means exclusive to the British carrier. What the giant airline did though to gain recovery was probably more far-reaching than any other international operator at the time. Staff was slashed during the two year period from a peak of 58,200 to 36,700, 37 international and 25 domestic sectors were axed, while 25 stations throughout the world were closed in an effort to get operations back into the black. A rejuvenated marketing campaign was initiated, and regional markets, such as Australasia, gained their own individual status and were tasked with making a profit on their own initiative. Additionally, some 82 aircraft were disposed of, 60 of which were sold to other operators for around $150 million.
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