12 December 2022, etc.venues Monument, London
Business Travel Show Europe, presented by The BTN
21 November, London Hilton Metropole
British Airways reported a second quarter pre-tax profit of Â£241m, after losing up to Â£45m on the Gate Gourmet catering dispute during the summer.The UK's national carrier said that in three months to September 2005, it had an operating profit of Â£261m and an 8.2% increase in revenue.But during the period, it also said that its fuel costs had risen by 51.3%.With the second quarter figures, the airline said it had made a pre-tax profit of Â£365m for the first six month of its 2005-2006 financial year. The figure for the corresponding period last year was Â£368m Willie Walsh, BA's chief executive said the figures were “a reasonable set of results driven by improvements in revenue, seat factor and yield.”But he added the carrier needed to "re-energise" its drive to cut costs."We have demonstrated time and again that it is possible to offer worldclass service while improving unit costs."Costs are up in most areas. Fuel was the biggest single contributor, up a staggering 51.3 per cent," he said.BA chairman Martin Broughton said that stable prices and a good demand for premium travel had delivered a "small yield improvement."He added: "Assuming continued stable economies and a rational capacity environment, some yield improvement is now expected for this financial year. Consequently, revenue is now expected to grow by between 6 – 7%, up 0.5 points from our previous guidance."
Aer Lingus moves closer to privatisation
Aer Lingus has confirmed the appointment of Merrion Capital and Goldman Sachs to assist in its privatisation process.Irish state owned carrier needs new investment to fund fleet acquisition and other development for medium and long term growth.Dermot Mannion, ceo of Aer Lingus, said discussions on the privatisation process "are now entering a critical phase."