BA Unveils Q3 Profits Surge

11 February 2004

British Airways looks to be recovering from the three-year aviation slump after posting its best fiscal Q3 results in over a decade.

For the three months ending December, the airline giant posted pre-tax profits of £125 million ($234m; €183m), its strongest third quarter for twelve years and a fivefold improvement on the £25m reported a year earlier. Operating profits jumped from £53m to £138m, while revenues rose marginally.

BA chief executive Rod Eddington attributed the earnings surge to £1.7 billion in cost cuts since September 11 2001. As a result, the airline has "survived the most testing period in aviation history," he added.

Data sourced from: Financial Times; additional content by WARC staff