BA has announced a half year profit of £158m the first for 2 years, the company was expected to make a profit of just half that figure by top analysts. These figures also include the losses caused by striking cabin crew workers and the ash cloud catastrophe.
The figures will be pleasing news for Iberia who are set to merge with BA, the merger will also see BA Chief Executive Willie Walsh receive a 12% pay rise earning him £825,000 a year.
The same period last year saw a £292m loss for BA so it is quite a turnaround, BA put this down to cost cutting measures of 1.5% and a rise of 39% in cargo revenues.
Friday 29 October 2010
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