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BRITISH AIRWAYS SCRAPES HOME WITH MINIMAL “PROFIT”

News, 23 May 2000


UK flag-carrier British Airways has scraped into the black by the skin of its teeth at £5m ($7.4m) - posting its worst full-year results since privatisation in 1987. Operating profit also nose-dived by 81% to £84m and had it not been for a £249m ‘windfall’ from asset sales, BA would have recorded a loss of £244m.

The results were slightly better than analysts' forecasts of a £277m loss and BA retained a 17.9p dividend.

Passenger yields increased by 3.3% in the fourth quarter – proving, claims BA. that its strategy to home in on the most profitable parts of its business is working.

News source: Financial Times