Business Services Industry
British Airways Enters Clear Blue Sky after CEO Jettisons Excess Baggage.
Knight Ridder/Tribune Business News, November, 2002
By Brett Arends, Daily Mail, London Knight Ridder/Tribune Business News
Nov. 6--British Airways delivered a strong first-half recovery and said it remains on track to return to profits this year, after last year's UKpound 200 million losses.
But it warns that war with Iraq "or further terrorist action" could jeopardise its plans. That would hurt air traffic again, while fuel prices could soar.
First-half profits rose nearly 600 percent to UKpound 310 million, despite a near 9 percent fall in sales, as chief executive Rod Eddington slashed costs 15 percent or UKpound 676 million, including UKpound 177 million from the payroll. Falling oil prices produced a UKpound 164 million windfall.
Sales costs fell UKpound 57 million as...
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