8 FEBRUARY 2010

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Article from BTNews 8 FEBRUARY 2010

British Airways quarterly results

BRITISH AIRWAYS has reported a small operating profit of £25m (US$39m) for the last quarter to the end of 2009 but for April-December, the airline's pre-tax losses rose to £342m against the negative £70m of a year ago.  Analysts are predicting full year losses between £500m/£750m but a great deal depends on current cabin union negotiations and with it public perception regarding forward bookings.  Announcing the figures Chief Executive Willie Walsh said: "These results highlight the impact of permanent changes across the company on our costs.  Those changes, combined with capacity reductions and external spending cuts, mean operating costs are down by 10.5% and show that we've adapted quickly to the new business realities created by the global recession."  The airline said it carried 7% fewer passengers in January year-on-year.  The number of its premium, or Business Class, passengers fell 2.1% year-on-year, while non-premium traffic fell 7.9% on the same month last year. www.ba.com

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