BA parent reports improved performance
Posted 30/07/2011
British Airways and Iberia parent International Airlines Group reported a second quarter profit of 190 million euros, compared with a loss of 71 million euros in the same period last year, but warned of tough trading conditions ahead.
An increase in demand for business travel, particularly between Heathrow and New York, has helped offset higher fuel costs.
"We expect significant growth in operating profit this year, with improvements in both our unit revenue and unit cost performace versus 2010 and are on track to reach our synergy targets," said chief executive Willie Walsh.
"Although we achieved 50% recovery of the fuel cost impact in the first half through revenue initiatives, it should be noted that this task becomes progressively harder through the year as we face tougher revenue comparables with last year."
Originally published 30 Jul 2011 at: http://rss.feedsportal.com/c/398/f/5923/s/17017ce7/l/0L0Stravelmole0N0Cstories0C11487410Bphp0Dmpnlog0F1/story01.htm
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