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20/05/2002
BA reveals losses of £200 million
British Airways has experienced its worst year yet, as it reveals figures showing a loss of £200 million before tax and one-off charges for the year to March 2002.
However, while the beleaguered air carrier turned in a poor performance, losses have not been as bad as expected, with some analysts forecasting a deficit of £400m. In addition, the results for the fourth quarter (January-March 2002) show the start of turnaround for the company.
BA has experienced a difficult year, as the knock-on effect of 11 September saw passenger numbers plummet while cut-price carriers such as easyJet have stepped in to lure customers away with budget deals.
As profit margins were squeezed tighter, BA was forced to cut back on its flights, and a programme of redundancies was stepped up, with plans of further job losses for the coming year. Another strategy currently being mooted by the company is a new programme that aims to cut £670m off the airline's spending by 2004.
Responding to the figures, BA's Chief Executive, Rod Eddington, said: "We have had to make a series of tough decisions this year to protect BA for the long term."
(CL)
However, while the beleaguered air carrier turned in a poor performance, losses have not been as bad as expected, with some analysts forecasting a deficit of £400m. In addition, the results for the fourth quarter (January-March 2002) show the start of turnaround for the company.
BA has experienced a difficult year, as the knock-on effect of 11 September saw passenger numbers plummet while cut-price carriers such as easyJet have stepped in to lure customers away with budget deals.
As profit margins were squeezed tighter, BA was forced to cut back on its flights, and a programme of redundancies was stepped up, with plans of further job losses for the coming year. Another strategy currently being mooted by the company is a new programme that aims to cut £670m off the airline's spending by 2004.
Responding to the figures, BA's Chief Executive, Rod Eddington, said: "We have had to make a series of tough decisions this year to protect BA for the long term."
(CL)
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Good year for Tesco as profits top £1.6bn
It has been a good year for the supermarket retailer Tesco which has seen pre-tax profits soar to £1.6 billion, according to the group's full-year preliminary statement issued today. In addition to driving up pre-tax margins by 17.6%, the company said that it had slashed its debts by £600 million, down to £4.1 billion. In the UK, sales grew by 14.
Good year for Tesco as profits top £1.6bn
It has been a good year for the supermarket retailer Tesco which has seen pre-tax profits soar to £1.6 billion, according to the group's full-year preliminary statement issued today. In addition to driving up pre-tax margins by 17.6%, the company said that it had slashed its debts by £600 million, down to £4.1 billion. In the UK, sales grew by 14.
22 May 2009
BA Announces Record Losses Of £401m
British Airways has today posted a record loss of £401 million, marking the airline's worst result since the privatisation of the company in 1987. The dramatic pre-loss tax for that year - brought about as a result of increasing oil prices and falling passenger numbers - comes just one year after BA announced a record £922m profit.
BA Announces Record Losses Of £401m
British Airways has today posted a record loss of £401 million, marking the airline's worst result since the privatisation of the company in 1987. The dramatic pre-loss tax for that year - brought about as a result of increasing oil prices and falling passenger numbers - comes just one year after BA announced a record £922m profit.
14 June 2010
CIPR Journalism Awards In Full
Deric Henderson of the Press Association has been awarded the Journalist of the Year title The Belfast Telegraph lifted the title for Coca-Cola CIPR Newspaper of the Year, and the BBC's Spotlight Programme won the Coca-Cola CIPR Scoop of the Year and the Coca-Cola CIPR Current Affairs Programme of the Year for its Irish Robinson Investigation.
CIPR Journalism Awards In Full
Deric Henderson of the Press Association has been awarded the Journalist of the Year title The Belfast Telegraph lifted the title for Coca-Cola CIPR Newspaper of the Year, and the BBC's Spotlight Programme won the Coca-Cola CIPR Scoop of the Year and the Coca-Cola CIPR Current Affairs Programme of the Year for its Irish Robinson Investigation.
05 April 2002
BA reveals a dip in passenger traffic
British Airways has revealed a dip in passenger traffic for March with traffic volumes down 3.2 per cent on a year earlier. While this compares with a 2.5 per cent slide in February, the airline has maintained that its recovery is still on track, as the latest figures still represent an improvement on January's fall of 6.9 per cent and the 24.
BA reveals a dip in passenger traffic
British Airways has revealed a dip in passenger traffic for March with traffic volumes down 3.2 per cent on a year earlier. While this compares with a 2.5 per cent slide in February, the airline has maintained that its recovery is still on track, as the latest figures still represent an improvement on January's fall of 6.9 per cent and the 24.
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