Just days after British Airways chief executive Willie Walsh said he could see a case for taking A380s early, the airline announces a slowdown in plans to field the mega-transport.
BA will still receive the first A380 in 2012, but says delivery schedules have been delayed by an average of five months for the first six aircraft. The second six are delayed an average of two years, with the last A380 now to be handed over in 2016, the airline announced today.
BA is trying to preserve cash and Walsh had said the airline faced some A380-related expenses, such as modifying or building new hangars.
Moreover, BA says it will ground three remaining Boeing 757s ext summer and three more 747-400s in the winter 2010 travel season.
Capacity also is coming down, the airline says. The current summer season has been adjusted further, now down 3.5% from 2.5%, and the winter season will see a reduction of 5% versus a planned cut of 4%.
BA says the changes are allowing it to reduce capital expenditure. The new level is ₤580 million, rather than £725 million for this year. Spending levels will remain about the same in the 2010/11 period, the airline says. BA has vowed to keep at least ₤1 billion cash on hand by the end of the current financial year, which ends in March.