Air Transport World

British Airways. (News Briefs: Europe Report).(financial report)(Brief Article)

British Airways Chairman Colin Marshall cited "significant cost reduction initiatives, improved contribution from the cargo business and the impact of the Future Size and Shape program" for contributing to a net profit of [Pounds sterling]13 million ($21.2 million) in the fiscal third quarter ended Dec. 31, compared with a net loss of [Pounds sterling]144 million in the prior-year period. Group turnover rose 1% to [Pounds sterling]1.86 billion and operating expenses decreased 10% to [Pounds sterling]1.8 billion. Operating profit was [Pounds sterling]53 million against an operating loss of [Pounds sterling]187 million in 2001.

For the nine months to Dec. …

Log in to your account to read this article – and millions more.