Stark warning from BA boss

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If you feel you haven’t heard quite enough bad recession-related news and you’re looking for a bit more, check out this article in London’s Evening Standard about British Airways.

Quoting BA chief executive Willie Walsh’s (pictured) comments in the airline’s in-house newspaper, the article says BA faces two years of losses and shouldn’t expect any bailout from taxpayers.

The article goes as far as to quote an analyst who says BA is “in danger of taking on the attributes of Royal Bank of Scotland, with wings”.

In case you’ve been living in a cave for the last couple of weeks, Royal Bank of Scotland recently recorded the largest annual loss in UK corporate history while its shameless former boss Sir Fred Goodwin retired from the bank at the age of 50 and is refusing to give up any of his hefty £650,000 a year pension.

Does this comparison strike any of you as being a slight exaggeration, or could things really be this dire for BA?

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