Menu
05/08/2005
BA profits rise on improving outlook
British Airways (BA) has today reported a rise in operating profit in the first quarter of the company's trading year.
BA reported a £176 million operating profit up from £129 million in the same period last year.
The airline reported a rise in pre-tax profit of £124 million (2004, £75 million profit) for the first quarter to June 30, 2005.
Sir Rod Eddington, British Airways' Chief Executive, said: "These are good results despite a 37.6% increase in fuel costs. The improvement in passenger revenue is driven by more customers flying in our premium cabins".
However, he said that there was "still much work to be done to achieve a 10% operating margin."
Martin Broughton, British Airways' Chairman, said: "Record passenger loads in July indicate that the short term impact of the London bombings was not material although it is too early to say what the long term impact will be. When taken together with the uncertain economic outlook and volatility in both fuel prices and the US Dollar exchange rate, accurate forecasting is even more of a challenge than usual. Market conditions, however, remain broadly unchanged."
The strength of the US Dollar and increased surcharges on both long haul and short haul flights have improved BA's revenue outlook.
BA reported revenue in the quarter was £2.1 billion, was up 8.3%.
Net debt was £2,527 million, down £395 million since the start of the financial year.
(SP/KMcA)
BA reported a £176 million operating profit up from £129 million in the same period last year.
The airline reported a rise in pre-tax profit of £124 million (2004, £75 million profit) for the first quarter to June 30, 2005.
Sir Rod Eddington, British Airways' Chief Executive, said: "These are good results despite a 37.6% increase in fuel costs. The improvement in passenger revenue is driven by more customers flying in our premium cabins".
However, he said that there was "still much work to be done to achieve a 10% operating margin."
Martin Broughton, British Airways' Chairman, said: "Record passenger loads in July indicate that the short term impact of the London bombings was not material although it is too early to say what the long term impact will be. When taken together with the uncertain economic outlook and volatility in both fuel prices and the US Dollar exchange rate, accurate forecasting is even more of a challenge than usual. Market conditions, however, remain broadly unchanged."
The strength of the US Dollar and increased surcharges on both long haul and short haul flights have improved BA's revenue outlook.
BA reported revenue in the quarter was £2.1 billion, was up 8.3%.
Net debt was £2,527 million, down £395 million since the start of the financial year.
(SP/KMcA)
Related UK National News Stories
Click here for the latest headlines.
17 May 2004
BA pre-tax profits soar by 70%
British Airways (BA) has today posted an annual pre-tax profit of £230 million – up £95 million, or 70%, on last year's mark. The operating profit for the full year to March 31 rose from £295 million to £405 million – of which the fourth quarter saw £32 million.
BA pre-tax profits soar by 70%
British Airways (BA) has today posted an annual pre-tax profit of £230 million – up £95 million, or 70%, on last year's mark. The operating profit for the full year to March 31 rose from £295 million to £405 million – of which the fourth quarter saw £32 million.
02 February 2007
BA reports fall in profits
British Airways has reported a fall in profits in the third quarter. Pre-tax profits for the three-month period until the end of December dropped to £113 million from £166 million in the same period the year before. The announcement comes in the same week that a threatened strike by cabin crew over sick leave, pay and conditions was called off.
BA reports fall in profits
British Airways has reported a fall in profits in the third quarter. Pre-tax profits for the three-month period until the end of December dropped to £113 million from £166 million in the same period the year before. The announcement comes in the same week that a threatened strike by cabin crew over sick leave, pay and conditions was called off.
31 July 2003
BA announces £40m losses
British Airways today posted a pre-tax loss of £45 million for the first quarter to June 30 – a huge turnaround on last year's £65 million profit for the same period.
BA announces £40m losses
British Airways today posted a pre-tax loss of £45 million for the first quarter to June 30 – a huge turnaround on last year's £65 million profit for the same period.
06 February 2009
Access Improvements Set For Hundreds Of Stations
Elderly and disabled passengers will benefit from safer and more accessible railway stations thanks to a multi-million pound Government cash boost, Transport Secretary Geoff Hoon has announced. A total of 523 stations across England and Wales will be upgraded thanks to £37 million of funding, which includes a £6.
Access Improvements Set For Hundreds Of Stations
Elderly and disabled passengers will benefit from safer and more accessible railway stations thanks to a multi-million pound Government cash boost, Transport Secretary Geoff Hoon has announced. A total of 523 stations across England and Wales will be upgraded thanks to £37 million of funding, which includes a £6.
05 November 2010
Wipe Out For RBS Profits
Despite growing operating profits, RBS bank has reported a pre-tax loss of £1.38bn in the July-to-September quarter. The loss was incurred due to the £825m charge in relation to its use of the Government's toxic asset protection scheme.
Wipe Out For RBS Profits
Despite growing operating profits, RBS bank has reported a pre-tax loss of £1.38bn in the July-to-September quarter. The loss was incurred due to the £825m charge in relation to its use of the Government's toxic asset protection scheme.
-
Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
