LONDON (Reuters) - British Airways slumped to a record loss and nearly doubled its debt pile during the year to end March, and said the tough conditions made it impossible to give any guidance for the current period.
The company posted operating losses of 220 million pounds on Friday, compared to a profit of 875 million in 2007/08. It had earlier forecast a loss of 150 million pounds, not including restructuring costs of around 80 million.
"The revenue outlook continues to be weak during the current financial year ... In light of this, the board is unable to recommend a dividend this year," Chairman Martin Broughton said in a statement.
BA said it would continue cost cutting, while capacity for next winter will be down 4 percent.
The carrier's debt rose to 2.4 billion pounds, from 1.3 billion the previous year, while its cash position slid 483 million pounds to just under 1.4 billion pounds.
(Reporting by John Bowker, Editing by Matt Scuffham)