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05/11/2002
BA announces increase in profits
British Airways has reported a leap in profits to the sum of £245m for the three months to the end of September.
While the company warned of "continued uncertainty" in the aviation market it said that, thanks to a cuts plan which had cost 8,180 jobs so far, it should be able to continue the momentum to show a full-year profit.
The latest profit, which compared with earnings of £5m a year before, came despite a decline of 6.8% in passenger takings.
BA was among the worst hit by the aviation downturn following the September 11 attacks on the US, and last year notched up its worst results since it was privatised 15 years ago.
BA has also increased its range of low fares, allowing it to tap into the budget market which has remained lucrative despite the aviation downturn.
(MB)
While the company warned of "continued uncertainty" in the aviation market it said that, thanks to a cuts plan which had cost 8,180 jobs so far, it should be able to continue the momentum to show a full-year profit.
The latest profit, which compared with earnings of £5m a year before, came despite a decline of 6.8% in passenger takings.
BA was among the worst hit by the aviation downturn following the September 11 attacks on the US, and last year notched up its worst results since it was privatised 15 years ago.
BA has also increased its range of low fares, allowing it to tap into the budget market which has remained lucrative despite the aviation downturn.
(MB)
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BA reports full-year profits jump by 80%
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BA's quarterly pre-tax profits slip to £105m
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BASF issue another profits warning
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15 October 2001
Rolls-Royce poised to axe jobs
Aero-engine manufacturer Rolls-Royce is feared to be about to announce radical jobs cuts this week as a knock-on effect of the downturn in the commercial aviation industry. Concern is growing that the massive reductions in the aircraft manufacturing sector worldwide is feeding through to the major component providers such as engine manufacturers.
Rolls-Royce poised to axe jobs
Aero-engine manufacturer Rolls-Royce is feared to be about to announce radical jobs cuts this week as a knock-on effect of the downturn in the commercial aviation industry. Concern is growing that the massive reductions in the aircraft manufacturing sector worldwide is feeding through to the major component providers such as engine manufacturers.
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