Menu
05/11/2001
BA losses prompt doubts about future performance
British Airways has announced a 25 per cent fall in traffic in October, prompting speculation about the financial future of the company, which is currently Europe's largest airline.
While analysts’ predictions had placed the figure to be closer to 30 per cent, the news was enough to cause BA shares to plummet dramatically ahead of the official announcement, following Goldman Sachs’s branding of BA as a “market under-performer”. Merrill Lynch also joined in the pessimism, raising its pre-tax forecast for the company from £65 million to £775 million before exceptional items for the fiscal year.
The developments have prompted predictions that BA could be relegated from the FTSE index amid fears of continued poor economic performance from the airline.
While transatlantic air traffic is expected to stabilise in the wake of the events of September 11, it is thought that the week-on-week decline in the numbers of European air passengers is not set to level out at the same pace, despite BA’s optimistic predictions of a possible upturn in bookings by the end of the year.
Although shares in the company clawed back a little by Monday afternoon, BA's bottom line will be revealed on Tuesday when the company releases its financial results for the first half of the fiscal year. (CL)
While analysts’ predictions had placed the figure to be closer to 30 per cent, the news was enough to cause BA shares to plummet dramatically ahead of the official announcement, following Goldman Sachs’s branding of BA as a “market under-performer”. Merrill Lynch also joined in the pessimism, raising its pre-tax forecast for the company from £65 million to £775 million before exceptional items for the fiscal year.
The developments have prompted predictions that BA could be relegated from the FTSE index amid fears of continued poor economic performance from the airline.
While transatlantic air traffic is expected to stabilise in the wake of the events of September 11, it is thought that the week-on-week decline in the numbers of European air passengers is not set to level out at the same pace, despite BA’s optimistic predictions of a possible upturn in bookings by the end of the year.
Although shares in the company clawed back a little by Monday afternoon, BA's bottom line will be revealed on Tuesday when the company releases its financial results for the first half of the fiscal year. (CL)
Related Northern Ireland Business News Stories
Click here for the latest headlines.
20 April 2004
Good year for Tesco as profits top £1.6bn
It has been a good year for the supermarket retailer Tesco which has seen pre-tax profits soar to £1.6 billion, according to the group's full-year preliminary statement issued today. In addition to driving up pre-tax margins by 17.6%, the company said that it had slashed its debts by £600 million, down to £4.1 billion. In the UK, sales grew by 14.
Good year for Tesco as profits top £1.6bn
It has been a good year for the supermarket retailer Tesco which has seen pre-tax profits soar to £1.6 billion, according to the group's full-year preliminary statement issued today. In addition to driving up pre-tax margins by 17.6%, the company said that it had slashed its debts by £600 million, down to £4.1 billion. In the UK, sales grew by 14.
23 September 2002
Holywood Road SPAR recognised as 'best company owned site'
The SPAR & Jet Filling Station on the Holywood Road has picked up the top accolade of 'Best Company Owned/Managed Site in Northern Ireland' at the Forecourt Trader of the Year Awards 2002.
Holywood Road SPAR recognised as 'best company owned site'
The SPAR & Jet Filling Station on the Holywood Road has picked up the top accolade of 'Best Company Owned/Managed Site in Northern Ireland' at the Forecourt Trader of the Year Awards 2002.
06 November 2001
BA announce first profit loss since privatisation
British Airways has announced profits of only £5 million for the second quarter of the financial year, representing a drop of 98 per cent on the figure for the same period last year.
BA announce first profit loss since privatisation
British Airways has announced profits of only £5 million for the second quarter of the financial year, representing a drop of 98 per cent on the figure for the same period last year.
15 May 2014
Co Antrim Firm Wins New £10m Manufacturing Contract
Toomebridge, Co Antrim-based firm SDC Trailers have won a new £10m contract to supply trailers to hire company Hireco. It follows the news that the company won a £1.25m contract with Saudi company Rezayat Group in February. The new Hireco contract will bring the total number of trailers manufactured by SDC for the firm to 5,000.
Co Antrim Firm Wins New £10m Manufacturing Contract
Toomebridge, Co Antrim-based firm SDC Trailers have won a new £10m contract to supply trailers to hire company Hireco. It follows the news that the company won a £1.25m contract with Saudi company Rezayat Group in February. The new Hireco contract will bring the total number of trailers manufactured by SDC for the firm to 5,000.
28 July 2009
Consumer Confidence Rising, Says Bank
A new NI-based survey has revealed a significant reduction in the number of people who are pessimistic about their anticipated financial position over the coming year. Local consumer confidence rose to its highest level in 10 months in June suggesting that economic stability is helping to shed some of the recessionary gloom.
Consumer Confidence Rising, Says Bank
A new NI-based survey has revealed a significant reduction in the number of people who are pessimistic about their anticipated financial position over the coming year. Local consumer confidence rose to its highest level in 10 months in June suggesting that economic stability is helping to shed some of the recessionary gloom.
-
Northern Ireland WeatherToday:It will be cloudy again throughout the day. Mainly dry in the morning, but patchy drizzle in places, becoming more widespread and persistent in the afternoon. Freshening southwesterly winds. Maximum temperature 12 °C.Tonight:Cloudy with a spell of heavy rain pushing south through late evening and the early hours, followed by some clear spells. Minimum temperature 6 °C.
