BA Kicked Out Of FTSE 100
British Airways (LSE: BAY.L - news - msgs) is to be kicked out of the prestigious index of leading UK shares for the first time in its history as a private company.BA, along with EMI and International Power (LSE: IPR.L - news - msgs) , is set to be demoted from the FTSE 100 in the latest quarterly reshuffle of Britain's biggest plcs.
September 11
The airline's demotion follows a brutal year for the firm.
The company axed jobs, capacity and routes as it struggled to cope with a fall in demand.
The slowing global economy and aftermath of September 11 meant sales fell away and profits collapsed.
In May it unveiled losses of £200m - the first full-year losses since it was privatised 15 years ago.
Shares
Its share price has reflected the dramatic change in the group's fortunes.
On the day of the terror attacks, BA's stock dived 21% to 208p.
Over the entire year, the shares have collapsed by almost 49%.
On Tuesday night, they closed up 3p at 135p, giving it a value of £1.46bn, but not enough to save BA from demotion.