British Airways, Europe's third-largest airline, said on Wednesday it planned to cut almost 600 management jobs as part of wider plans to reduce labor costs. BA said it would cut 35 percent of its 1,715 senior and middle management staff by March 2008. Senior managers would be hit the hardest with 50 percent of their jobs to go. The cuts would save the airline 50 million pounds ($86 million), contributing to a previously-announced target to reduce costs by 300 million pounds by March 2007. "We must lower our costs so that we can fund future investment in our business," BA's new Chief Executive Willie Walsh said in a statement. BA shares were trading 1 percent firmer at 315 pence at 1030 GMT. The broader market was down 0.7 percent. --more 1417 Local Time 1117 GMT
