BA increases profits by 80% to #415m

In Short: British Airways increased its profits strongly last year and claimed top spot in the global aviation industry with…

In Short: British Airways increased its profits strongly last year and claimed top spot in the global aviation industry with the highest operating profits of any of the world's airlines.

Rod Eddington, BA chief executive who is due to retire in September and will be replaced by Willie Walsh, formerly chief executive of Aer Lingus, said the airline had increased its pre-tax profits by 80 per cent in the year to March from £230 million to £415 million, ahead of market expectations.

BA increased its operating profits by 33 per cent, triggering staff bonus payments for the first time since 1998.

It raised its operating profit margin from 5.4 per cent to 6.9 per cent but remained well below the target set by Mr Eddington of a 10 per cent margin through the trading cycle. - (Financial Times Service)

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