Buxton believes British Airways could benefit from crisis

Schroders' Richard Buxton remains bullish on British Airways despite losses caused by the volcanic ash crisis and plans to increase exposure to the airline on further weakness.

Buxton, the £1.92bn Schroder UK Alpha Plus manager, says while the enforced groundings led to a sharp drop in BA shares over the past two trading days, the situation does not detract from its compelling investment case over the medium-term. "As if dealing with a severe global downturn and striking cabin crew were not enough, British Airways is now faced with additional losses given the continued closure of the UK's airspace due to the volcanic ash drifting across Europe from Iceland," he says. "Unsurprisingly their shares have dipped along with other airline stocks in recent days. ...