British Airways latest carrier to feel squeeze

LONDON - Struggling British airline British Airways (BA) today said rumours of 10,000 possible job losses were 'pure speculation', but confirmed a major review of the company was under way.

British Airways, which employs around 56,000 staff, has ordered a massive internal review following slumps in trade in the wake of the September 11 terror attacks in the United States.

Passenger numbers fell by more than 17 per cent last month as travellers stayed out of the skies in the wake of the attacks.

However, a British Sunday paper says BA had drawn up secret plans to axe up to 10,000 jobs and slash domestic flights in a desperate bid to avoid financial disaster.

The airline responded that the review has only just begun and it won't be completed until February at the earliest; and therefore anything being said about it now is just speculation.