LHR27C From United Kingdom, joined Aug 2004, 1279 posts, RR: 15
Reply 1, posted (11 years 2 weeks 4 days 9 hours ago) and read 2409 times:
Certainly shows the effectiveness of the Size and Shape cost-cutting measures. There were rumours that Eddington would be leaving, but apparently he plans to stay on at least for the short term. He's put in a lot of work to get BA back into good shape, at least financially, and it would have been a shame to see him leave before his efforts paid off (no pun intended).
Once you have tasted flight, you will walk the earth with your eyes turned forever skyward
RRFan From , joined Dec 1969, posts, RR:
Reply 3, posted (11 years 2 weeks 4 days 5 hours ago) and read 2270 times:
Good for BA. Everybody knocks them and has plently of criticism for them yet they continue to improve their balance sheet!
For an airline that is very dependant on the North Atlantic routes for its profits it makes these set of results even more encouraging. I am sure there are plenty of majors out there wishing that they had the same results, Delta, UA, Alitalia to name a few.
FlyCaledonian From United Kingdom, joined Dec 2003, 2218 posts, RR: 3
Reply 4, posted (11 years 2 weeks 3 days 20 hours ago) and read 2162 times:
I notice that their debt is now down to £3.3 billion - its lowest level since 1993. BA seems really determined to continue to drive this debt down, which can only bode well for the future. With cost cutting becoming harder to achieve it is a good move to tackle cost controls, and reducing debt brings savings in itself with lower interest payments and more than likely a better credit rating for the carrier. Eddington and co are really working hard to strengthen the foundations at BA, which can only be good for the carrier long term. Yes, there may be criticism by those who hate to see BA drop routes, e.g. CCS and BOG (And who doesn't hate seeing a carrier drop routes?), but BA is opening new markets too, albeit largely shorthaul at present. Plus, BA is making money, despite increasing oil costs. Lets just hope we see an upturn soon and that BA and all is staff can start reaping the rewards from the hard work and sacrifices of the past few years.
Boo25 From United Kingdom, joined Dec 2003, 294 posts, RR: 0
Reply 5, posted (11 years 2 weeks 3 days 18 hours ago) and read 2123 times:
This is great news, i work at BA , and ever since september 2001 , it has been hard hard work.
Resources and manpower have been cut back in a big way.
Tough measures were taken immediately , and it seems now that these are paying off.
They have set a benchmark maybe , for flying in todays world, and perhaps a couple of airlines out there who even now, have still to tighten their belts , could learn a lesson or two.
Reported on the BBC this morning - BA 3 monthly profits up from £105 million to £220 million year-on-year.
First half year profits stand at £335million (US$620million), up from £60million for the equivalent period last year.
Nice to see some good news at last in the aviation world.