British Airways (BA) today (Nov 2) released its interim management report for the six months ended 30 September, 2007.
The report shows profit before tax of ”593m ($1.24bn) a significant increase from the ”471m ($981.4 m) achieved last year.
”These are record results which are driven by all the hard work our people put in last year to tackle the cost base of our business,” said BA chief operating officer, Willie Walsh.
”Profits are up some 26% and costs are down nearly 4 %,” he said. ”Fuel costs remain a major challenge and our fuel bill for the year is expected to top ”2bn ($4.2bn) for the first time.”
The airline also gave an update on Terminal 5 due to open on 27 March next year; volunteers will undergo trials this weekend to ensure customers can transit through the check-in area, in a bid to improve what BA calls ”the hassle factor” as restrictions on hand-baggage are potentially removed.
”Punctuality and baggage performance remain a challenge at Heathrow where facilities are old and overstretched,” added Walsh. ”These areas will be improved significantly” when the airline moves to its new home in Terminal 5.