Yes terrible numbers, hence the rights issue announced by WW today.
When I last looked the share price at 187p puts the company outside the FTSE 100 at a future valuation
Hence BA will find future borrowings will be harder ie not investment grade
Qatar who currently have a 25% share have said they will take up their share, with defaults I can see their share increasing up to 49%, the max allowed
Assuming the January to March period they broke even that means the true cash burn is circa €600 pm so this extra cash buys them 4 months
At this point the airline will be Nationalised but maybe with a twist. Qatar will buy the other half cheaply and come to an arrangement with the U.K. government on ownership