Friday saw the troubled airline British Airways confirming that, with the aim to boost its cash pile, it was raising a sum of nearly 600 million pounds.

Via a statement, BA specified: "British Airways plans to raise 600 million of cash funding to ensure it has strong liquidity consistent with the current difficult trading conditions."

It was put forth by BA, following the close trade on Friday, that it will earn 350 million pounds from the sale of bonds to agreed buyers who finally will be able to alter their purchased debt into shares.

Furthermore, the trustees of the group's pension fund have said 'yes' to the unveiling of some bank guarantees back to the airline, permitting it to draw up to 540 million dollars in cash.

Earlier on Friday, the airline had said: "The above funding is expected to add 600 million pounds of further liquidity to the airline bringing it to a total of approximately two billion pounds."

According to British Airways' chief executive Willie Walsh, any suggestion that BA is in any sort of risk in the short term, would be put to rest by this action.

He continued: "Relative to competitors, this puts us in a very strong position."

It was confirmed Tuesday by BA that it was seeking options for raising new funds, since a sharp opposition was faced by its under-pressure board for the controversial cost-cutting measures.

A protest was carried by dozens of trade union officials and activists at the airline's annual general meeting in London held earlier this week. They also paraded two cages of lemmings to indicate dissatisfaction at how the company was being led.

It should be noted that nearly a fifth of BA's 40,000-strong workforce, including pilots, have said 'yes' to cuts in their pay or to work for free, in order to aid the group save millions of pounds.

However, plans to make huge cost savings were opposed by baggage handlers and check-in workers.

It is but obvious that the world's leading commercial airlines have been facing a serious cash squeeze, as the global economic slump has crushed the demand for air travel.