British Airways Chief Executive Is Ousted

British Airways Chief Executive Bob Ayling was ejected from the pilot’s seat of Europe’s biggest airline, but officials insisted that the company’s business strategy remains intact. BA, heading for its first full-year loss, said Chairman Lord Marshall would act as chief executive while a successor is sought for Ayling, who is stepping down after four turbulent years on the job. BA shares, which have slumped in the past year, initially surged on the news as investors welcomed the change. But the stock then pulled back, finishing the day up about 2%. In the past year, BA has been hit by rising fuel costs, price-cutting and a growing challenge from low-cost airlines in Europe. Analysts believe BA is heading for a $395-million loss for its fiscal year ending this month.