Business Services Industry
Restoring dividends returns to British Airways' agenda, chairman says.
Knight Ridder/Tribune Business News, July, 2004
Daily Mail, London Knight Ridder/Tribune Business News
Jul. 21--Restoring dividends at British Airways is "back on the agenda" after a three-year gap, said Martin Broughton, who took over as chairman yesterday from Lord Marshall.
He said after the agm that this is likely to happen when BA has cut its UKpound 4.2 billion debt to "around UKpound 3 billion." He declined to set a date, but the group's finances suggest that could come next year. Cash flow has already cut debt from over UKpound 7 billion since 2001.
Broughton predicted BA will achieve its target of raising operating margins from 5.4 percent to 10 percent "by the end of 2005" -- but only if the industry avoids further crises.
Cutting debt and hitting those margins...
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