Big increase in profits at BA
 

Seems to be lots of posts knocking BA, just thought it was helpful to promote some good news from the "World's most profitable airline"

£415m profit, an increase of around 80% from last year.

Bonuses all round.

Not bad, eh!

...........................and a fuel bill expected to increase by £400m in the next 12 months (according to BBC).

Bonus..................ha!

Excellent news. No business or industry can survive long-term without making healthy and repeatable profits.

The LoCos also post profits, but they also post amazing growth figures, too. Their bubble must burst sometime, unless they've a cunning strategy for dealing with maturity and market saturation...

Hopefully, we'll all benefit. The future position for our company should also look more secure, if our biggest customer is making money.

Cheers,
The Odd One

Yeah excellent, as a hard working member of the BA CitiExpress wholly owned subsidiary I am quite chuffed that OUR hard work for our parent is being rewarded

A £35 CHRISTMAS BONUS AS A VOUCHER!!

That's what we get for working our T$ts Off

Well, when you contribute to the bottom line in anything except red ink maybe you'll get some more.:ok:

Ah yes, red ink, like EOG? You try making a go of it when your parent company dumps its least suitable fleet, the RJ, upon us

Yeah but, no but, yeah but, we was cheated, they paid 1.2 billion quid off the debt so the profit was really 1.6 billion readies, that would have made the 10% operating margin nearer 21% and we would have got several months bonus..............I think?
:ok: :suspect:
that was a bit mean nn

Well if we get a bonus based on how much profit we contribute to BA, then all of us at GSS should be at the top of the list.

BAWC said that they made a million (not sure if its £ or $) on each trip that we did on the Bojo run to Japan in November. We did seven trips in total, so add that to all the other schedules in the year we probably contributed profit more than anyone else.

I look forward to checking my post every day awaiting the check.

B O S D At least at BA Citiexpress you are told that you are a wholly owned subsidiary.......

Well done BA, by a long shot my favourite longhaul carrier.

A bigger profit could be achieved if the parent company dumped it's loss making subsidiary.

BA pilots didn't received a Christmas bonus last year.

BluffOldSeaDog, don't bite the hand that feeds you!;)

Personally, I'm pleased to see BA doing so well. It's unfashionable to praise 'management', but if ever a business plan was more timely than FSAS in the airline industry, then I never saw it.

I write as a BACX pilot, hoping for the best.:ok:

Whilst this profit is good news. What would the profit be if BA had to properly fund their Pension Scheme deficit or are they going to go down the United Airline route?

PS 411A has only flown B707 and L1011 and is long retired!

As a minor share holder this is good news however, look at the figures for the first 3 quarters and then look at the figures for this last quarter. Yes the headline figure is very good, but the trend suggested by the last 3 months of 04/05 is not so good.

Regards

Millerscourt - interesting point about the pension scheme...

Perhaps though, you might expand upon why 'only' having flown a 707 or L1011 makes a pilot less qualified to comment on a point of airmanship. Maybe the lack of systems automation? Or possibly they flew by virtue of different laws of physics? Explain please...

BS

Bluff Old Sea Dog,

that is a blatant lie and well you know it. I am tempted to report your post to a moderator! :D

The voucher was for £50 this year! And I seriously considered retiring and living off the interest! :}

RM

Controversial thought maybe, but why should someone complain if they get a non contractual BONUS...? Some people can never be happy (in my company with a 500 quid Christmas bonus people still complained, and it is a LOT, LOT, smaller than BA).

Or, when BA doesn't make such profits, will all workers make a whip around and give the company money.

As long as both sides keep their contractual word, what is the problem. If you (as a worker) are that unhappy, the door is always open to go elsewhere and the company knows this, in times both good and bad.

35 quid voucher or whatever. I agree a fiver's voucher would take the urine but then it is better to not bother at all.

And no, I don't work for BA... but work in a land where "free Chrstmas parties, free presents and more" are expected and then people still complain...

According to an article in the Daily telegraph, from next year BA will have to carry their £1.4Billion pension deficit on their balance sheet, wiping out any reserves. This has been mandated by the latest Pensions Act and the Pension Protection Fund.

Article says with a market cap of £2.8Billion, if BA were threatened with collapse as a result of said deficit, the PPF can take over the liability in exchange for an equity stake in the newly "liberated" company.

Nationalisation by the backdoor?

An ice cream?

Feet dry:

Last quarter is always a dog, so its not the beginning of a downward trend which will automatically continue into following quarters. It is a very good result which BA can be proud of, but theres no static state of being out of the woods. No airline ever is, but BA has navigated its way out of/around the post 9/11 trouble without being able to shelter behind the petticoats of Chapter 11 like the American bretheren. On a level playing field the latters creditors would have called time long before now and in a dynamic industry the dinosaurs would have been replaced by other operators structured differently. Chapter 11 distorts competition and is not in most consumers interests.
For BAs shareholders the dilemma is whether to hang on in hopes of medium/long term capital gains on their holdings. Those who were looking for an income from their shares of course continue to be disappointed and could decide to sell and go elsewhere, but for many this would mean a substantial capital loss which they can afford to take. Thats why they hang on in.

Well done BA and all the peolple in it. A good result considering all the unfair competition from insolvent US airlines still allowed to fly the atlantic.
Now lets hope they put more money into NAPS. Dan Air pilots had a scheme that was £8 million in surplus when BA absorbed the scheme into the BA NAPS scheme in 1994. This excess was taken as profit when BA bought DA for £1. Those that were unfairly made redundant are now part of a huge pension scheme that is at best only 85% funded, and if wound up tomorrow would only cover 70% of its promises.