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02/02/2007
BA reports fall in profits
British Airways has reported a fall in profits in the third quarter.
Pre-tax profits for the three-month period until the end of December dropped to £113 million from £166 million in the same period the year before.
The announcement comes in the same week that a threatened strike by cabin crew over sick leave, pay and conditions was called off. However, many passengers had already made alternative arrangements by this time and BA estimated that it would lose around £80 million because of the dispute.
Other factors, including severe fog before Christmas, which resulted in cancelled flights, and the failure of the baggage system at Terminal 4 in Heathrow twice in December, also cost the airline £40 million during the same period.
BA Chief Executive Willie Walsh said: "The patience and loyalty of our customers has been tested and I want to apologise for the inconvenience they have suffered during this period."
(KMcA)
Pre-tax profits for the three-month period until the end of December dropped to £113 million from £166 million in the same period the year before.
The announcement comes in the same week that a threatened strike by cabin crew over sick leave, pay and conditions was called off. However, many passengers had already made alternative arrangements by this time and BA estimated that it would lose around £80 million because of the dispute.
Other factors, including severe fog before Christmas, which resulted in cancelled flights, and the failure of the baggage system at Terminal 4 in Heathrow twice in December, also cost the airline £40 million during the same period.
BA Chief Executive Willie Walsh said: "The patience and loyalty of our customers has been tested and I want to apologise for the inconvenience they have suffered during this period."
(KMcA)
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