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04/02/2002
Latest quarterly results from BA better than expected
The latest quarterly figures unveiled from troubled airline British Airways show a pre-tax loss of £160 million.
The third quarter pre-tax losses published on Monday February 4, for the three months to December 31, 2001 of £160 million compare against a pre-tax profit of £65 million for the same period last year.
However, the figures from BA were better than had been expected, with operating losses for the period coming in at £187 million against the £225 million that many City experts had been predicting.
Chief executive Mr Rod Eddington said: "These results reflect the massive impact on revenue of September 11 and the ongoing economic slowdown. We have made real progress in managing our costs but British Airways still faces a number of considerable challenges some of which were apparent before the terrorist attacks on the USA".
The airline's chairman, Lord Marshall said: "The general economic weakness in many of our key markets is expected to continue, however, the initial uncertainty and concern caused by the events of September 11 have diminished and as a consequence there is an improving revenue trend."
BA's shares were up 1 per cent to 215p in the opening minutes of trading on the London market. (AMcE)
The third quarter pre-tax losses published on Monday February 4, for the three months to December 31, 2001 of £160 million compare against a pre-tax profit of £65 million for the same period last year.
However, the figures from BA were better than had been expected, with operating losses for the period coming in at £187 million against the £225 million that many City experts had been predicting.
Chief executive Mr Rod Eddington said: "These results reflect the massive impact on revenue of September 11 and the ongoing economic slowdown. We have made real progress in managing our costs but British Airways still faces a number of considerable challenges some of which were apparent before the terrorist attacks on the USA".
The airline's chairman, Lord Marshall said: "The general economic weakness in many of our key markets is expected to continue, however, the initial uncertainty and concern caused by the events of September 11 have diminished and as a consequence there is an improving revenue trend."
BA's shares were up 1 per cent to 215p in the opening minutes of trading on the London market. (AMcE)
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Northern Ireland WeatherToday:A sunny but frosty start for many. However cloud increases by midday with a few showers reaching the north coast, these mostly light but spreading inland this afternoon. Chilly. Maximum temperature 8 °C.Tonight:A rather cloudy evening with scattered showers. Becoming drier through the night with some good clear spells developing and a patchy frost away from coasts. Minimum temperature 0 °C.
