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BA pre-tax profits up 65% in strong first quarter
Graham Dunn, London (05Aug05, 07:57 GMT, 155 words)
British Airways (BA) has increased pre-tax profits in the first quarter by 65% to reach £124 million ($153 million) citing increased premium traffic for higher passenger revenues.
Passenger revenues for the three months ending 30 June 2005 were up 4%, helping BA’s overall revenues for the period to rise 8% to £2.06 billion. Passenger yields were up 1.5% over the same period last year, an improvement largely driven by increased premium traffic.
Operating costs were up 6% during the period to £1.88 billion, reflects a rise of more than a third in its fuel costs.
The Oneworld carrier’s operating profits increased 36% to £176 million, while pre-tax profits jumped from £75 million to £124 million. Profit after tax more than doubled to £90 million.
BA CEO Rod Eddington says: “These are good results despite a 37.6% increase in fuel costs. The improvement in passenger revenues is driven by more customers flying in our premium cabin.”
Source: Air Transport Intelligence news
Graham Dunn, London (05Aug05, 07:57 GMT, 155 words)
British Airways (BA) has increased pre-tax profits in the first quarter by 65% to reach £124 million ($153 million) citing increased premium traffic for higher passenger revenues.
Passenger revenues for the three months ending 30 June 2005 were up 4%, helping BA’s overall revenues for the period to rise 8% to £2.06 billion. Passenger yields were up 1.5% over the same period last year, an improvement largely driven by increased premium traffic.
Operating costs were up 6% during the period to £1.88 billion, reflects a rise of more than a third in its fuel costs.
The Oneworld carrier’s operating profits increased 36% to £176 million, while pre-tax profits jumped from £75 million to £124 million. Profit after tax more than doubled to £90 million.
BA CEO Rod Eddington says: “These are good results despite a 37.6% increase in fuel costs. The improvement in passenger revenues is driven by more customers flying in our premium cabin.”
Source: Air Transport Intelligence news