HZ123
4th Nov 2005, 07:59
British Airways has revealed a pre-tax profit of £241 million for its busiest period of the year – the months of July, August and September 2005 (quarter two).
The operating profit for quarter two was £261 million compared to £245 million last year, giving an operating margin of 11.8 per cent.
To achieve its goal of a 10 per cent margin for the full year, the airline needed to have hit an operating margin nearer 17 per cent.
The results also show that the Gate Gourmet dispute and associated unlawful action taken by some BA Heathrow ground staff cost the business an estimated £35-£45 million.
Chief executive Willie Walsh described the results as reasonable but said a renewed focus on cost control was called for.
The operating profit for quarter two was £261 million compared to £245 million last year, giving an operating margin of 11.8 per cent.
To achieve its goal of a 10 per cent margin for the full year, the airline needed to have hit an operating margin nearer 17 per cent.
The results also show that the Gate Gourmet dispute and associated unlawful action taken by some BA Heathrow ground staff cost the business an estimated £35-£45 million.
Chief executive Willie Walsh described the results as reasonable but said a renewed focus on cost control was called for.