9-Nov-2009 12:58 PM
British Airways 1H09/10 revenue down 13.7%; pre-tax loss of GBP292 million
British Airways revenue down 13.7% - financial highlights for the six months ended 30-Sep-2009:
- Revenue: GBP4,102 million, -13.7% year-on-year;
- British Airways World Cargo: GBP248.7 million, -30.9%;
- Total costs: GBP4,213 million, +8.7%;
- Labour: GBP1,031 million, +7.6%;
- Fuel: GBP1,228 million, +17.8%;
- Operating profit (loss): (GBP111 million), compared to a profit of GBP140 million in the previous corresponding period;
- Profit (loss) before tax: (GBP292 million), compared to a profit of GBP52 million in the previous corresponding period;
- Profit (loss) after tax: (GBP208 million), compared to a loss of GBP42 million in the previous corresponding period;
- Passenger numbers: 17.7 million, -2.6%;
- Passenger load factor: 80.6%, +1.1 ppt;
- Cargo volume: 377,000 tonnes, -6.7%;
- Passenger revenue per RPK: GBP 5.99 pence, -12.2%;
- Passenger revenue per ASK: GBP 4.83 pence, -10.9%;
- Cargo revenue per FTK: GBP 11.21 pence, -24.8%;
- British Airways World Cargo: -37.2%;
- Total costs per ATK: GBP 37.98 pence, -5.2%. [more]
British Airways also reports the following traffic highlights in Oct-2009:
- Passenger numbers: 2.8 million, -2.8% year-on-year;
- UK/Europe: 1.7 million, -4.0%;
- Trans-Atlantic: 655,000, +1.2%;
- Asia Pacific: 127,000, -21.8%;
- Africa & Middle East: 305,000, +5.9%;
- Load factor: 80.7%, +3.7 ppts;
- UK/Europe: 74.2%, +5.6 ppts;
- Trans-Atlantic: 85.6%, +6.8 ppts;
- Asia Pacific: 86.4%, +2.6 ppts;
- Africa & Middle East: 73.9%, -2.7 ppts.
British Airways: "Our traffic volumes and yields have stabilised compared to a very low base. We are continuing with our cost reduction initiatives to help offset the declines in revenue," Company statement. Source: British Airways, 06-Nov-2009.