British Airways on Friday reported a first-half loss of £49 million ($77 million), as chief executive Willie Walsh said record high oil prices and a global economic slowdown meant the period would "be remembered as one of the bleakest on record."
The net loss for six months through September 30 compared to a profit of £493 million a year earlier, reported CNN.
Revenue rose 6.4 percent to £4.75 billion ($7.4 billion), Europe's third largest airline said.
But the rise in revenue was more than canceled out by the cost of oil, which hit a record high in July, and the growing number of empty seats on flights.
Load factor -- a key measure of seats filled -- fell nearly 5 percent over the six months to 74.6 percent.