British Airways third-quarter net profit down 40.2%

British Airways third-quarter net profit down 40.2%

   British Airways posted a drop of 40.2 percent in third-quarter net profit for the period ended Dec. 31, to '52 million ($98 million), compared to '87 million in the same period the year before.

   British Airways’ third quarter operating profit decreased 20.3 percent to '110 million ($207 million) from '138 million. Revenues rose 4.3 percent to '1.97 billion ($3.7 billion).

   For the nine months ended Dec. 31, British Airways net profits jumped 95.3 percent to '252 million ($474 million) from '129 million in the year-earlier period. Operating profit increased 34 percent to '500 million ($941 million), while revenues improved 3.4 percent to '5.9 billion ($11.1 billion).

   British Airways also said it carried 412 million cargo ton kilometers last month, a 14.2 percent increase over January 2004.

   For the financial year covering April 2004 through January, British Airways reported 4.1 billion cargo ton kilometers, a 13.6 percent increase for the same period in the last financial year.

   “Market conditions for the current financial year remain broadly unchanged. For the year to March 2005, the total revenue outlook is slightly better than previous guidance with a 3.0-3.5 percent improvement anticipated (compares with previous 2-3 percent),” said Martin Broughton, British Airways chairman.