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29/10/2010
BA Profits Take Off
After a turbulent journey, British Airways has reported pre-tax profits up to £158m.
The new results reflect the six months to the end of September and are the airline's first half-year surplus for two years.
The airline reported a loss of up to £292m last year but improvements and a reduction in non-fuel costs has nurtured growth in profits.
The figure is more than double the £73m expected by analysts and takes into account flight disruption caused by the Icelandic ash cloud and crew strikes.
Willie Walsh, BA's chief Executive said: "Our focus on permanent structural change will continue.
"This summer we agreed a new productivity deal with our Heathrow terminal-based staff that will provide a more flexible, cost-efficient and customer focused ground operation.
"In addition, the first of the cabin crew recruited on new terms and conditions have completed training and start flying on Monday."
His comments come after a recent criticism on Air Passenger Duty plans, which he says will cost BA an extra £100m in taxes.
BA are currently planning a merger with Spanish airline Iberia in January.
(BMcN/GK)
The new results reflect the six months to the end of September and are the airline's first half-year surplus for two years.
The airline reported a loss of up to £292m last year but improvements and a reduction in non-fuel costs has nurtured growth in profits.
The figure is more than double the £73m expected by analysts and takes into account flight disruption caused by the Icelandic ash cloud and crew strikes.
Willie Walsh, BA's chief Executive said: "Our focus on permanent structural change will continue.
"This summer we agreed a new productivity deal with our Heathrow terminal-based staff that will provide a more flexible, cost-efficient and customer focused ground operation.
"In addition, the first of the cabin crew recruited on new terms and conditions have completed training and start flying on Monday."
His comments come after a recent criticism on Air Passenger Duty plans, which he says will cost BA an extra £100m in taxes.
BA are currently planning a merger with Spanish airline Iberia in January.
(BMcN/GK)
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Northern Ireland WeatherToday:A mostly cloudy start with scattered showers, the showers becoming more isolated and largely confined to the south this morning. Becoming brighter this afternoon, the best of any sunnier spells across northern counties. Northerly winds easing. Maximum temperature 12 °C.Tonight:A dry evening with late sunny spells and some long clear spells overnight. Becoming cloudier across the north towards dawn with a few showers possible. Touch of frost in south. Minimum temperature 0 °C.
