BA profits up

[moggiee]

Reported on the BBC this morning. BA 3 monthly profits up from £105 million to £220 million year-on-year.

First half year profits stand at £335million, up from £60million for the equivalnet period last year.

Nice to see good news.

http://news.bbc.co.uk/1/hi/business/3991415.stm

If a certain flying instructor who used to be at Jerez and predicted (in his usual fashion) that "BA would be dead by the end of 2002" is reading this, any thoughts CC?

[sharpshot]

Let's hope they manage to pay us shareholders a dividend one day. Share price still less than 50% of that paid when things with AA looked bright:(

[Globaliser]

One key indicator that caught my eye from one report: Operating margin 11.8%. Quite an achievement.

[cirrus01]

I bet there's no mention about the 200 million pounds spent on the disaster known as EWS .......,:}

[moggiee]

EWS?

I only wanted to write "EWS?" but the forum rules dictate that I must write more and take up more server memory and bandwidth.

[M.Mouse]

It is the new engineering spares inventory and maintenance management system.

It stands for Engineering Without Spares.

[Runway 31]

Glad to see the fuel surcharges paying off

[ojs]

Yes, congrats to all at BA: this was a very creditable set of figures. A successful airline can be to the good of the industry as a whole, so don't see BA in isolation.

The 11.8% figure was particuarly good, although Q1-2 is the strongest period so fairly unlikely to hit the 10% by the end of the year. But should be close enough to trigger the staff bonus (somewhere around 5.5% if memory serves).


As for EWS: Is it really just as bad as ever, insiders? (I'm just thinking that after all this time something must have improved).

Surely!

[M.Mouse]

The 11.8% figure was particuarly good, although Q1-2 is the strongest period so fairly unlikely to hit the 10% by the end of the year. But should be close enough to trigger the staff bonus (somewhere around 5.5% if memory serves).

I thought the 'bonus' is only payable to 'managers', that ill defined elusive breed who got us into the mess in the first place.

As for EWS: Is it really just as bad as ever, insiders? (I'm just thinking that after all this time something must have improved).

Slowly improving but very slowly.

[ojs]

M. Mouse: would appear all staff will be entitled to a pay rise if BA's profits approach the magic 10% figure (which is separate to the management bonus scheme):

http://business.timesonline.co.uk/article/0,,8903-1188902,00.html

Perhaps someone who works for BA could fill us in on the detail of the Employee Reward Programme?..

[AdrianShaftsworthy]

Minimum to trigger 1 weeks basic pay is 6.5%, (the 1/2% is to cover the cost of funding the scheme). To achieve 2 weeks basic pay bonus the operating profit needs to be 11%, (10% + 1% to fund the payout). As reported by a senior financial type in Waterworld earlier today!:)

[M.Mouse]

Whoops! I work for BA and had totally forgotten that scheme.

[Yellow Snow]

Would EWS be the cause of a lot of U/S APU's on aircraft at Heathrow?

Apologies it's off topic.

[Squatter]

Would EWS be the cause of a lot of U/S APU's on aircraft at Heathrow?

Nope, that'll be cos the weather's turning colder. They will send those aircraft off to Moscow and Helsinki this time of year, if it was summer they'd be winging their way to Madrid or Rome.

Cynical moi?

[moggiee]

Wonder why this piece of news was moved from "Rumours and News"?

[Wee Weasley Welshman]

Because its more an Airline thread than either a Rumour or, now, a piece of News.

Simple. (or maybe we at PPRuNe HQ all have it in for BA..? I think we should be told... etc.) :=

WWW

[speedbird_7e7]

I work for UBS in the City where the results were presented.
It was surreal seeing all the BA top brass walking in!

[moggiee]

www - fair enough if it's no longer "news".