The airliner said that it had to take a charge of around 20 million pounds, as BA Connect had incurred losses to end-February 2007. BA is expected to have a 15 percent stake in Flybe, but the company has already said that it will be selling off the shares when Flybe goes public in 2008.

Meanwhile BA has said that it will be canceling around 1,000 loss-making flights in order "to protect the ongoing viability of the business". The cancellation of the flights will leave over 30,000 passengers stranded who have already booked their seats. Flights expected to be cancelled are from Birmingham, Manchester and Scottish airports

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