British Airways lifts profits

Europe News.Net
Saturday 17th May, 2008

British Airways has reported a 45% rise in annual profits but warned that economic uncertainty and high fuel costs pose challenges.

BA made a profit of £883m in the year to 31st March, which BA boss Willie Walsh called an outstanding result.

The airline's bill for the six million tonnes of jet fuel it uses in an average year was £124m higher than the previous year, despite significant hedging and a weaker dollar.

Mr Walsh said he would not be taking an annual bonus because of the problems at the opening of Heathrow's Terminal Five.

The airline warned that the problems with the move to Terminal Five would hurt its earnings this year.

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