Red alert for US carriers: British Air raises money

There have been a lot of articles in the press about the bleak future of U.S. airlines. If anyone needed confirmation about how tight cash is getting in the industry, they only need look at the U.K. flag carrier British Airways.

According toThe Wall Street Journal, BA will bring in cash in a combination of new bond issues and an agreement with the company's pension fund. All in all, it will give BA access to almost $1 billion.