BA to reveal IFRS impacts in July

British Airways saw its operating profits for the year ended 31 March 2005 increase from £405m in 2004 to £540m.

Link: BA reports profit rise

The airline also reduced its net debt, which fell by £1.2bn from £2.9bn.

BA, however, did not provide any concrete details on the impacts of new international accounting standards.

The company briefly mentioned that it had set up a working group to handle the IFRS transition, and would communicate further details in July.

‘An IFRS convergence project team was established in 2003 and reports to the Audit Committee quarterly,’ a BA statement said. ‘Progress continues in accordance with the project plan, and the project is on track.’

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