BusinessCompany NewsBA reports profit rise

BA reports profit rise

Pre-tax profits at British Airways leapt £115m in the third quarter of the year.

Link: Delta auditor issues Chapter 11 warning

Figures published by the airline show that between July and September profits stood at £220m, up from £105m on the same quarter in 2003.

Surcharges introduced to help offset the rising cost of fuel were responsible for the figures. These are expected to bring in £160m.

BA estimates that its annual fuel bill will increase by £20m to £245m.

‘We are making steady progress in building a more robust airline,’ said BA chief executive Rod Eddington.

He added that the company’s net debt figure of £3.3bn was now the lowest it has been since 1993.

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