British Airways revenue down 11%, reports first operating profit since 2QFY2009
British Airways revenue down 11% - financial/traffic highlights
Three months ended 31-Dec-2009:
- Revenue: GBD2,038 million, -11.1% year-on-year;
- Operating costs: GBD2,013 million, -14.1%;
- Fuel: GBP585 million, -22.0%;
- Labour: GBP492 million, -10.2%;
- Operating profit: GBD25 million, compared to a loss of GBD51 million in the previous corresponding period;
- Passenger yield: n/a, -11%;
- Cargo yield: n/a, -21.7%. [more]
- Passenger numbers: 2.1 million, -8.0%;
- Passenger load factor: 74.2%, +1.0 ppt;
British Airways: "The year-on-year trading improvement seen in the third quarter is expected to be similar in the fourth quarter (excluding any impact of potential industrial action). Longhaul premium continues to show modest year on year improvement and other segments continue to be stable at current levels. While the revenue trend has improved due to optimism about economic recovery in the premium sector, non-premium revenue will require a return to economic growth to deliver historic performance levels. As a consequence, our focus on permanent cost reduction must continue if we are to return the business to profitability in the short term," Company Statement. Source: British Airways, 05-Feb-2010.
British Airways: "These results highlight the impact of permanent changes across the company on our costs. While we are on the right track, we still expect to make record losses this year." Willie Walsh, CEO. Source: Company Statement, 05-Feb-2010.