Air Transport World

British Airways. (Europe Report).(earnings)(Brief Article)(Statistical Data Included)

British Airways posted earnings of [pounds sterling]40 million ($62.7 million) for the fiscal first quarter ended June 30, up 53.8% from [pounds sterling]26 million in the year-ago period, driven by a sharp drop in operating expenses that offset a decline in sales. Turnover was down 10.7% to [pounds sterling]2.05 billion while operating expenses fell 15.7% to [pounds sterling]1.89 billion, resulting in an operating profit of [pounds sterling]158 million, up from [pounds sterling]50 million a year ago.

The airline reduced its fleet by nine to 351 aircraft. Disposals included a 777-200, two 757-200s, two 737-300s and two Dash 8s. …

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