The fuel outlook, and concerns over the launch of BA's new airline, OpenSkies, helped push BA's shared down 2.3 percent to 324.25 pence on the London Stock Exchange.

BA last month announced that OpenSkies will begin service to either Brussels or Paris using a single Boeing 757 in June, British Airways said Wednesday. A second aircraft will start flying to the other European city later this year.

The new routes are possible because of the "open skies" initiative between the U.S. and the European Union, which goes into effect March 30. That deal lets European airlines fly from anywhere in the European Union to any city in the U.S., and vice versa.

However, the threat of industrial action is hanging over BA's new venture with the pilots' union Balpa unhappy that the company is recruiting an entirely new work force for OpenSkies.

UBS analyst Tim Marshall said the risk of a pilot strike is real and could come within weeks.