British Airways could reverse fortunes: Barron’s

NEW YORK (BestGrowthStock) – After a string of setbacks, British Airways (BAY.L: ) shares might be on the verge of a rebound, business weekly Barron’s reported.

American depository receipts of BA have fallen from 36 in April to 28.76 on Friday amid concerns about labor strikes, a volcanic eruption in Iceland and the euro.

In its May 31 edition, Barron’s said BA’s ADRs could rebound to over 40, even amid a labor dispute, with the successful integration of Iberia, which it acquired last year.

On Sunday, members of a BA’s cabin crew union began a second five-day strike after talks held last week aimed at resolving the long-running dispute ended without an agreement.

Barron’s said the airline seemed to be handling walkouts by its cabin crew with “aplomb,” as it carried more than 65,000 passengers a day, more than 75 percent of its normal volume.

Seven days of walks in March cost BA $62 million.

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(Reporting by Steve Eder; editing by Gunna Dickson)

British Airways could reverse fortunes: Barron’s