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Old 16th Jan 2009, 23:31
  #149 (permalink)  
Re-Heat
 
Join Date: Dec 1999
Location: UK
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Last year BA made an unprecedented profit - with my supposedly expensive terms and conditions. This year, despite the worst crisis ever faced by airlines, BA is still set to make a profit, (after settling fines).
Sorry to nitpick, but the accounting charge for the fine went through the accounts in March 2007, so of course was not in the March 2008 record results. Furthermore, the charge went through below the "operating profit" that was so highly trumpeted, so you are talking about two different profits in two different years!

A profit is the shareholder's compensation for putting up their capital: at present, they have had no dividend for a stretch of 7 years until 2008, and (if investing in 1999) had a halving of their capital value. Having a profit does not mean it is available for the taking by the employee group - the financial backers have a return to make as well!
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