British Airways claims £116m profits in past six months

British Airways has announced £116m post-tax profits in its interim results for the six months ending September 2010, up from a £208m post-tax loss the previous year.

British Airways claims £116m post-tax profits for six months to end Sep 2010
British Airways claims £116m post-tax profits for six months to end Sep 2010

The airline has announced the unaudited results despite being plagued by cabin crew strikes, a drop in passenger numbers and the effects of the volcanic ash cloud over the accounting period.

British Airways’ interim management report shows that it carried 7.3% fewer passengers between 1 April and 30 September than the same period in 2009.

A total of 16.45m passengers travelled in 2010 period, down from 17.74m in 2009.

Its results for the three months to the end of June showed a £164m loss.

Meanwhile, fuel prices rose more than 25%, from an average of 172 US cents per gallon to 216 US cents.

British Airways chief executive Willie Walsh, said: "Our concerted efforts to introduce permanent structural change across the airline has led to a reduction in non-fuel costs and a return to profitability. Revenue has increased, driven primarily by yield improvements and, while fuel costs have risen, they are in line with our expectations."

Despite the drop in passenger numbers, passenger revenue increased 7.9% from £3.59bn to almost £3.88bn.

The airline also had £48m restructuring costs during 2009, added Walsh, which did not occur this year.

Unite union, which represents British Airways cabin crew, is now balloting its members on further strikes over Christmas.

A Unite spokesman told C&IT it could be "several weeks" before results were known.

Have you registered with us yet?

Register now to enjoy more articles
and free email bulletins.

Register now
Already registered?
Sign in
7 lessons for event planners from... the John Lewis Christmas ad

7 lessons for event planners from... the John Lewis Christmas ad

Everyone's nightmare is a fire-breathing dragon near a highly flammable Christmas tree, isn't it?

Biggest food and drink trends of 2020 revealed by hotel group

Biggest food and drink trends of 2020 revealed by hotel group

Black pepper ice cream, fermented foods and Levantine cuisine are among the culinary treats predicted to be popular.

What are Generation Z's top travel destinations?

What are Generation Z's top travel destinations?

In-depth analysis unearths the future of travel in a global survey of 10,000 young people in the US, UK, Europe and China.

Case study: Nickelodeon Kids' Choice Awards

Case study: Nickelodeon Kids' Choice Awards

Pop star Jason Derulo hosted the televised award ceremony at Abu Dhabi National Exhibition Centre.

Influx of association conferences for ACC Liverpool

Influx of association conferences for ACC Liverpool

Venue is set to host three major association conferences for the first time, while confirming return of several others.

3 simple ways to disrupt events

3 simple ways to disrupt events

Many planners mistakenly over-complicate their events, according to Scott Stratten, co-author of UnMarketing.

Answer our corporate event planner survey and win a luxury hotel stay

Answer our corporate event planner survey and win a luxury hotel stay

Complete our quick 10-minute survey to win a stay for two with Iconic Luxury Hotels and inform our State of the Industry report.

Profit and turnover up for Freeman EMEA

Profit and turnover up for Freeman EMEA

Most recent financial year included acquisition of Comotion Consulting and a new managing director for the event agency.

8 things to look out for at IBTM World

8 things to look out for at IBTM World

With the countdown on, what brand new features and events can attendees expect when they descend on Barcelona next week?

'I could have screamed' - the ongoing war against events waste

'I could have screamed' - the ongoing war against events waste

Putting the environment first doesn't have to cost more, says Karen Sutton, CEO and founder of the Global Good Awards.

LATEST JOBS