Freddie Spencer
"That's Hot"
- Joined
- Jan 26, 2004
- Posts
- 235
How much did DL make?
Despite rising fuel prices, an economic slowdown and the troubled opening of London Heathrow's Terminal 5 in the last days of its fiscal year, British Airways reported a record profit performance for the year ended March 31 with net income of £694 million ($1.35 billion), more than double the £304 million it earned in the prior year.
It also delivered on its goal of a 10% operating margin for the 12-month period. Total revenue was up 3.1% to £8.75 billion while operating expenses rose just 0.7% to £7.87 billion. Operating profit climbed 45.3% to £875 million from £602 million a year earlier.
CEO Willie Walsh commented, "Delivering 10% has not been easy, but we have achieved it by remaining focused on our strategy for the last six years. We tackled our pension deficit and we have strengthened the fundamentals of our balance sheet while at the same time growing a profitable business."
Full-year passenger revenue rose 3.8% to £7.5 billion on a 0.3% increase in passengers carried to 33.1 million. RPKs inched up 0.1% to 113.01 billion and capacity grew 0.8% to 149.57 billion ASKs, producing a load factor of 75.6%, down 0.5 point. Yield lifted 3.6% to 6.67 pence owing to an improved mix of premium traffic and the effect of fuel surcharge increases. Premium cabin traffic grew 4.4%. RASK was up 2.9% to 5.04 pence. Cargo revenue increased 3% to £616 million but cargo yield dropped 1.2% to 12.59 pence